Developer, Insurer Drop $14M Row Before NY's Top Court

Developer, Insurer Drop $14M Row Before NY's Top Court

New York's highest court said Thursday it would no longer decide the enforceability of a clause in Pacific Indemnity Co.'s policy that would have drastically reduced coverage for a Manhattan real estate developer's $14 million in fire losses, following an apparent settlement in the case sent over by the Second Circuit.

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