Judge Gregory Katsas of the U.S. Court of Appeals for the District of Columbia Circuit. (Photo: Diego M. Radzinschi/ALM) DC Circuit Rules Builders Risk Insurance Mandates Coverage for $1.5M Loss
"It's a nice decision in an area of law where there has been a paucity of case law," said C. Thomas Brown, who had argued the appeal successfully on behalf of the developers. "It's nice to know they are actually going to receive compensation for a policy they bought."
June 28, 2024 at 01:47 PM
2 minute read
Insurance
What You Need to Know
- The D.C. Circuit reversed a trial court judgment in a builders risk insurance contract dispute.
- Two insurance companies denied coverage to a water-related damage claim filed by a developer.
- The appeals court ruled the insurance policies in question mandate coverage for the $1.5 million loss.
The U.S. Court of Appeals for the District of Columbia Circuit overturned a lower court judgment and ruled against two insurance companies that refused to cover a $1.5 million water damage repair claim.
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