Standard Pacific Wants Insurers To Pay To Fix Housing Defects

Law360, Los Angeles (September 11, 2012, 4:50 PM EDT) -- Standard Pacific Corp. on Monday targeted excess insurers with a breach of contract lawsuit for refusing to cover tens of millions in repair costs to correct a design defect that caused the concrete foundation supporting condominiums it was building in the Los Angeles area to crack.

Standard Pacific claims the insurers excessively delayed the company's claim and unreasonably took the position that the damage caused to the condominium properties wasn't covered by its insurance policies. The company's covered losses were more than the $95 million in...
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