Federal Judge: No Coverage For Suit Over Alleged Failed Real Estate Development

Federal Judge: No Coverage For Suit Over Alleged Failed Real Estate Development

OAKLAND, Calif. - A professional and executive liability insurance policy's automatic extended reporting period (AERP) does not apply to a claim against an investor and lender stemming from a purported failed real estate development, a California federal judge ruled Aug. 13, granting the insurer's motion for summary judgment in finding that the claim was untimely (PCCP LLC, et al. v. Endurance American Specialty Insurance Co., No. 12-CV-0447 YGR, N.D. Calif.; 2013 U.S. Dist. LEXIS 114400).

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