NJ Transit's Sandy Coverage Not Capped At $100M: Court

Law360, Los Angeles (September 5, 2017, 8:23 PM EDT) -- A New Jersey judge has ruled that a $100 million sublimit for flood losses does not apply to New Jersey Transit Corp.'s claim for coverage of Superstorm Sandy damage, granting the transportation system a major win in its $400 million dispute with a group of excess insurance carriers.

Ruling from the bench on Aug. 24, Essex County Superior Court Judge Dennis F. Carey III granted NJ Transit's motion for a summary judgment holding that its coverage for water damage attributed to Sandy is not subject to a flood sublimit in its policies with Certain Underwriters at Lloyd's of London, Ironshore Specialty...

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