Lloyd's, Others Want Out Of $53M Contractor Coverage Suit

Law360, New York (April 30, 2013, 3:04 PM EDT) -- Essex Insurance Co. and Lloyd's of London joined other insurers in asking an Iowa federal judge on Tuesday to discard a general contractor's suit demanding coverage for a $53 million payout to the Hyatt Corp. in an underlying contract breach and property damage complaint, arguing the claims were untimely.

Seeking summary judgment, the companies backed a similar motion lodged by Lexington Insurance Co. and Allied World Assurance Co. three weeks ago and put forth their own arguments claiming they have no responsibility to foot The Weitz...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.