Judge: Any Claim Relating ToTime Element Losses Falls Under Policy’s Flood Sublimit
(February 8, 2016, 1:10 PM EST) -- NEW CASTLE, Del. — A Delaware judge on Jan. 27 held that any claims that arise out of a commercial insurance policy’s “TIME ELEMENT — SECTION C” fall under the policy’s $25 million flood sublimit in a Superstorm Sandy coverage dispute (Almah LLC, et al. v. Lexington Insurance Co., No.: N15C-01-237 EMD, Del. Super.; 2016 Del. Super. LEXIS 47).
(Opinion available. Document #51-160211-005Z.)
On Jan. 30, 2015, Almah LLC and SL Green Realty Corp. sued Lexington Insurance Co. for breach of contract in the...