NYC Condo Developer Sues Zurich Over $20M Sandy Losses

Law360, New York (August 23, 2013, 3:21 PM EDT) -- A real estate developer sued Zurich American Insurance Co. in New York on Thursday, demanding coverage of its more than $20 million in losses caused by Superstorm Sandy at a luxury condominium construction project in Manhattan.

El-Ad 250 West LLC took up a notch an insurance battle that's been simmering since October, asking the New York Supreme Court in New York County to force Zurich to cover its losses at a waterfront property in Tribeca.

Before Sandy came along, El-Ad planned to finish converting an 11-story...
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