Builder Hit With $8M Award Says Insurers Snubbed $1M Offer

Law360, New York (October 30, 2012, 1:24 PM EDT) -- A Florida construction company is suing three insurers over their refusal to settle a lawsuit concerning defective stucco installation that resulted in a $7.7 million negligence verdict against the company, according to a suit removed to Florida federal court Monday.

Professional Plastering & Stucco Inc. says that Admiral Insurance Co., National Fire and Marine Insurance Co. and Essex Insurance Co. declined settlement offers that would have resolved for less than $1 million a South Carolina suit accusing the company of botching the installation of stucco at...
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