Judge: No Coverage For Claims Arising From Economic Failure Of Apartment Complex

MONTGOMERY, Ala. - Coverage for underlying claims stemming from the economic failure of a 216-unit apartment complex is barred by three exclusions in a real estate professional errors and omissions insurance policy, an Alabama federal judge ruled March 29, finding that the insurer has no duty to defend against the underlying claims (Continental Casualty Company v. HomeCorp Management Inc., et al., No. 2:10-CV-566, M.D. Ala., Northern Div.; 2012 U.S. Dist. LEXIS 43210).

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