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Texas Court Snatches $6.7M Verdict From Homebuilder

Law360 (April 19, 2011, 7:51 PM EDT) -- A Texas appeals court on Tuesday reversed a $6.7 million jury verdict against Markel American Insurance Co. in a coverage dispute with Lennar Corp. arising from defective imitation stucco siding products used on about 800 homes in the Houston area.

The appeals court found that homebuilder Lennar had disregarded its earlier instructions to separate the cost of repairing water damage caused by the faulty siding product — a loss that was covered under Lennar's $25 million excess policy with Markel — from the costs of removing...
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