Flood Sublimit Applies To $25M ‘Time Element Losses,’ Insurer Argues To 6th Circuit

Mealey's (January 8, 2018, 2:43 PM EST) -- CINCINNATI — An insurer argued to the Sixth Circuit U.S. Court of Appeals that there are “multiple, reinforcing provisions” in an insurance policy that unambiguously make clear that a high hazard flood sublimit applies to all coverage for losses caused by a flood, including an insured’s alleged $25 million “time element losses” arising from a flood in Thailand (Federal-Mogul Corp. v. Insurance Company of the State of Pennsylvania, Nos. 17-1649 and 17-1716, 6th Cir.)....