Mealey's Insurance - Justice: Insurers Properly Denied Coverage Based On Rational Policy Interpretations

NEW YORK - A New York justice on Jan. 22 granted five builders risk insurers' motion for summary judgment in an insured's breach of contract and bad faith lawsuit seeking $6,409,029 in additional insurance benefits for loss of income and $140,568 in extra expenditures stemming from water leaks that occurred at its Manhattan luxury condominium complex (W2001Z/15 CPW Realty LLC v. Lexington Insurance Co., et al., No. 650593/2010, N.Y. Sup., New York Co.).

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