Judge: Developer Has No Insurable Interest, Is Not Entitled To Building Coverage

(February 10, 2017, 9:40 AM EST) -- TRENTON, N.J. — A New Jersey federal judge on Feb. 8 found that the developer of a condominium that is also a member of the insured condominium association does not have an insurable interest and is not entitled to building coverage under a standard flood insurance policy (SFIP), granting the insurer’s motion for summary judgment in a dispute over coverage for flood damage caused when the Raritan River overflowed (Branchburg Commerce Park, LLC v. Hartford Insurance Company of the Midwest, et al., No. 15-6719, D. N.J.; 2017 U.S. Dist. LEXIS 17518)....

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