Zurich Sued For Denying $37M Hurricane Sandy Claim

By Aebra Coe (August 13, 2014, 5:18 PM EDT) -- Zurich America Insurance Co. was hit with a lawsuit Monday in New Jersey federal court over its refusal to reimburse $37 million in losses that a Bergen County-based graphics company allegedly sustained during Superstorm Sandy.

Graphics and printing company Pictorial Offset Corp. says Zurich is shirking its duty under a commercial property insurance policy to compensate it for losses allegedly stemming from electrical surges in its printing presses and other equipment caused by the storm. Pictorial's claim includes damage to business personal property, debris removal, building damage, business interruption and professional fees.

"Defendant admitted coverage for part of the loss and...

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