Alliant Can't Ax $26M Sandy Damage Verdict At 2nd Circ.
Law360, Los Angeles (December 19, 2017, 2:47 PM EST) -- The Second Circuit on Tuesday refused to disturb an order directing insurance broker Alliant Insurance Services Inc. to pay $26 million after a federal jury found it had unilaterally lowered a property manager's flood coverage and left the company with insufficient insurance for Hurricane Sandy losses, holding that the evidence supported the verdict.
In a seven-page summary order, a panel of the appeals court found that U.S. District Judge Jed Rakoff of the Southern District of New York properly instructed the jury and didn't err in declining to grant Alliant's motion for judgment as a matter of law.
Alliant based its...
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