RSUI Should Pay $8M Post-Hurricane Award, Texas Court Told
Law360, Dallas (September 18, 2014, 8:04 PM EDT) -- Apartment manager The Lynd Co. on Thursday defended in Texas Supreme Court an appellate win that awarded it $7.5 million in coverage from insurer RSUI Indemnity Co. for damage caused during Hurricane Rita in 2005, saying that under the four corners of its policy, the insurers couldn’t avoid paying up.
Lynd, which says it carried coverage through RSUI for $1 billion worth of apartment buildings, argued that under the scheduled limits in its excess coverage policy, it should be compensated for its actual losses from the devastating hurricane.
Lynd is defending a narrow win from the Fourth Court of Appeals that interpreted...
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