Apt. Owner Sues Over Coverage For $7.5M In Ike Damage

Law360, New York (August 13, 2013, 7:31 PM EDT) -- A Houston apartment owner on Monday hit Commercial Insurance Solutions Group LP and Southwest Risk LP with a lawsuit alleging the insurers misled it into believing it had full coverage for its properties and was then stiffed for repair costs after Hurricane Ike in 2008.

According to its complaint, S.R. Residence LLC owned five apartment complexes in and around Houston and had contacted CIS about insurance for all the properties before the hurricane.

“Southwest Risk was represented to plaintiff to be a brokering insurance company that...
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.