10th Circ. Nixes $5M Award In Fire Coverage Row

Law360, New York (July 29, 2011, 7:10 PM EDT) -- The Tenth Circuit on Friday reversed and remanded a verdict that held James River Insurance Co. owed a lending company more than $5 million in damages for denying coverage after a building fire, ruling that important valuation testimony should not have been admitted.

Testimony provided by Rapid Funding LLC principal Andrew Miller as to the value of the building was based on technical or specialized knowledge, so it should not have been admitted under Federal Rule of Evidence 701, the court said. The testimony was not...
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