Summary
In a ruling that could mean a windfall worth hundreds of millions of dollars for insurers covering Hurricane Katrina damages, a three-judge panel of the US Fifth Circuit Court of Appeals ruled that homeowners, renters and commercial-property policies do not cover damage caused by levee breaks. The appellate court overturned a decision by US District Judge Stanwood Duval Jr, who sided in November with policyholders. The group sued, claiming that flood damage exclusions in their policies were ambiguous and should therefore be resolved in the homeowners' favor.
See the full content of this document
Extract
Insurers Win Major Katrina Flood Ruling
In a ruling that could mean a windfall worth hundreds of millions of dollars for insurers covering Hurricane Katrina damages, a thr...
See the full content of this document
Sponsored links
