Mealey's Insurance - Excess Policy Was Not Triggered, Panel Rules, Reverses $1.3M Ruling Against Insurer

Mealey's Insurance - Excess Policy Was Not Triggered, Panel Rules, Reverses $1.3M Ruling Against Insurer

ATLANTA - The 11th Circuit U.S. Court of Appeals on Jan. 24 reversed and remanded a lower federal court's $1.3 million judgment against an excess insurer in a Florida property manager's lawsuit seeking excess coverage for Hurricane Wilma damage, finding that Florida's insurable interest statute bars recovery beyond the property manager's revenue stream from the damaged property (Banta Properties Inc. v. Arch Specialty Insurance Co., No. 12-14186, 11th Cir.; 2014 U.S. App. LEXIS 1419).

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