Cleary Gottlieb Says Flood Exclusion Void In $3M Sandy Claim

Law360, Los Angeles (February 12, 2014, 1:08 PM EST) -- Cleary Gottlieb Steen & Hamilton LLP has asked a New York state judge to rule that its Federal Insurance Co. policy covers a power outage caused by Superstorm Sandy that wiped out at least $3 million in business income, saying the carrier itself deleted an applicable exclusion.

In a Jan. 31 summary judgment motion, Cleary insisted that the policy unambiguously covers losses from an 88-hour shutdown of three downtown Manhattan offices that lost electrical, steam and phone utility service after Sandy's storm surge flooded lower Manhattan...
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