N.J. Panel Affirms $100M Flood Sublimit Does Not Apply In Superstorm Sandy Dispute

Mealey's (November 19, 2019, 12:33 PM EST) -- TRENTON, N.J. — A New Jersey appeals court panel on Nov. 18 affirmed a lower court’s ruling that a $100 million flood sublimit does not apply to an insured's water damages that were caused by Superstorm Sandy and, therefore, the insured is entitled to coverage up to the full $400 million policy limits (New Jersey Transit Corp. v. Certain Underwriters at Lloyd's London, et al., Nos. A-1026-17T1 and A-1027-17T1, N.J. Super., App. Div., 2019 N.J. Super. LEXIS 163)....