Insurers Want Builder's $4.9M Drywall Suit Tossed

Law360, New York (January 31, 2011, 5:53 PM EST) -- Hanover Insurance Co. and Citizens Insurance Co. of America have asked a federal court to toss a homebuilder's $4.9 million lawsuit over damages caused by defective Chinese drywall.

Homebuilder Dragas Management Corp. had no “legal obligation” to fix anyone's house — since it chose to shell out millions for repairs before anyone even sued — so Hanover's and Citizens' policies do not cover it, the insurers said Friday in a motion filed in the U.S. District Court for the Eastern District of Virginia.

The insurers said...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.