Chubb, Insurance Agent Sued Over Yacht Club's Sandy Woes

Law360, New York (May 23, 2013, 4:00 PM EDT) -- Whacked by Superstorm Sandy, a New Jersey yacht club is accusing its insurance agent of failing to procure sufficient coverage and a Chubb Group company of improperly underpaying its claims and fraudulently selling an insurance program that was supposed to be the “Cadillac” of policies.

Located next to Raritan Bay, the Perth Amboy, N.J.-based Raritan Yacht Club also targets its own board of governors in the May 17 suit filed in Middlesex County Superior Court, contending that a 2011-2012 incarnation of the panel breached its fiduciary...
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