Policy Limits Flood Coverage To $1M, Majority Says In Superstorm Sandy Dispute

(May 26, 2017, 1:15 PM EDT) -- TRENTON, N.J. — A majority of the Supreme Court of New Jersey on May 25 reversed an appeals court’s ruling that held that an insured is owed $207,961.28 for debris removal in addition to $1 million in flood coverage under a surplus lines insurance policy, reinstating a lower court's partial summary judgment ruling in favor of the insurer in a Superstorm Sandy coverage dispute (Oxford Realty Group Cedar v. Travelers Excess and Surplus Lines Co., No. A-85-15, 077617, N.J. Sup., 2017 N.J. LEXIS 570)....

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