AIG Wins Suit Over Palazzo Hotel Construction Project

Law360 (March 12, 2018, 4:01 PM EDT) -- Liberty Mutual Fire Insurance Co. must pay the entirety of a multimillion-dollar settlement resulting from shoddy construction work on the Palazzo hotel in Las Vegas, a Nevada federal court ruled on Friday, finding that the damage is not capped by a per occurrence limit and therefore fellow insurer AIG doesn't need to contribute.

The settlement was reached between the owner of the Palazzo hotel and subcontractors that installed faulty steel beams that began to corrode shortly after the project was completed. The insurers issued policies to...
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