Policy’s Flood Deductible Is Ambiguous, Panel Says, Reverses Take-Nothing Ruling

Mealey's (September 28, 2021, 1:20 PM EDT) -- NEW ORLEANS — Finding that a policy’s flood deductible is ambiguous, the Fifth Circuit U.S. Court of Appeals on Sept. 24 reversed and remanded a federal court’s summary judgment ruling in favor of insurers in a general contractor’s bad faith lawsuit arising from flood damage at a hotel renovation....