Texas High Court To Hear $7.5M Post-Hurricane Award Appeal

Law360, New York (February 14, 2014, 3:20 PM EST) -- The Texas Supreme Court on Friday said it will hear RSUI Indemnity Co.’s appeal of a $7.5 million excess coverage award to The Lynd Co. for damage caused to apartment buildings during 2005’s Hurricane Rita.

In its petition for review, RSUI challenged the Fourth District Court of Appeals’ decision that the insurer had to use the same valuation method for all losses stemming from the hurricane, rather than paying the lesser of the liability cap or actual damage on a property-by-property basis.

RSUI argued that the...
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.