Judge Refuses To Dismiss Coverage Suit Arising From Failed Business Relationship

Mealey's (December 4, 2017, 1:21 PM EST) -- MOBILE, Ala. — An Alabama federal judge on Nov. 29 held that an underlying claimant’s lawsuit seeking to recover a lost investment in its relationship with an insured is sufficient, at the present stage, to plausibly state a claim that the damages fall outside the policy coverage for the “physical injury to tangible property” (Acadia Insurance Co. v. SouthernPointe Group, Inc., et al., No. 17-01368, N.D. Ala., 2017 U.S. Dist. LEXIS 195581)....