Justice Reduces $500,000 Jury Award Against Insurer In Rehabilitation

Mealey's (December 16, 2020, 7:02 AM EST) -- NEW YORK — A $500,000 jury award for a Staten Island owner of a 96-unit apartment complex regarding damages from Hurricane Irene was reduced to $404,671 against an insurer in rehabilitation after a New York justice on Nov. 25 applied the policy’s coinsurance provision and a deductible to the jury’s award (25 Bay Terrace Associates, L.P. v. Public Service Mutual Insurance Company, No. 451952/2020, N.Y. Sup., New York Co., 2020 N.Y. Misc. LEXIS 10190)....