Cleary Says Insurer's Flood Ban Is Void In $3M Sandy Row
By Stewart Bishop (September 11, 2014, 8:48 PM EDT) -- Cleary Gottlieb Steen & Hamilton LLP on Thursday pressed a New York judge to find that its Federal Insurance Co. policy covers a power outage caused by Superstorm Sandy that wiped out at least $3 million in business income, arguing that a key policy provision voids an exclusion for floods.
During oral arguments in a lower Manhattan courtroom, Cleary attorney Jonathan I. Blackman told New York Supreme Court Judge Marcy S. Friedman that the policy unambiguously covers losses stemming from the shutdown of its downtown Manhattan offices that lost utility service after Sandy's storm surge flooded lower Manhattan, leading to a...
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