Insurer Exempt from Paying Multimillion-Dollar Jury Verdict in Construction Lawsuit
New York — A New York state appeals court recently ruled in favor of an insurance company, relieving it from covering a multi-million award stemming from a construction dispute associated with a luxury condominium project. This pivotal decision underscores the intricate distinctions often contained within commercial insurance policies regarding what liabilities are effectively covered. The lawsuit originated from project disputes where the contractor, BuildItRight Inc. (fictitious name), faced litigation brought on by the condominium developers, alleging construction deficiencies that led to substantial water damage in the newly built luxury condos. The resulting jury trial led … Read more