Tyco Wants $33M In Chartis Coverage For Alarm Suit

Law360, New York (April 4, 2011, 1:54 PM EDT) -- Tyco International Ltd. on Thursday hit Chartis Inc. and National Union Fire Insurance Co. with a breach of contract suit, accusing the insurers of failing to cover $33 million in damages awarded in underlying actions against a former subsidiary.

Tyco alleged in the U.S. District Court for the District of Colorado that the insurers violated an umbrella insurance policy by refusing to cover damages against Sonitrol Corp., a security company found liable in multiple suits for inadequately maintaining burglar alarm systems in a warehouse.

National Union,...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.