Fees In Management Agreement Trigger ‘Extra Expenses’ Coverage, Appellant Argues

Mealey's (April 24, 2018, 9:24 AM EDT) -- RICHMOND, Va. — A property management company recently asked the Fourth Circuit U.S. Court of Appeals to reverse a lower federal court’s finding that an “insurance claim processing fee” and a “construction management fee” in a management agreement with a condominium association are covered under a business owners insurance policy as “extra expenses” (Capitol Property Management v. Nationwide Property and Casualty Insurance Co., No. 17-1789, 4th Cir.)....