10/22/2021 | News release | Distributed by Public on 10/22/2021 10:22
Kathryn Grace (Partner- McLean, VA | Charlotte, NC), Erik Tomberg (Of Counsel-Raleigh, NC), and Peter Moore (Partner-McLean, VA) obtained dismissal of a homeowners association suit against the firm's excess insurer client in the North Carolina Business Court. The claim arose out of damages caused by Hurricane Florence to the association's oceanfront property and hundreds of condominiums. The team filed their motion to dismiss on the grounds that the excess insurer had no contractual obligation to the association until the underlying limits have been paid in full, despite the association alleging damages above the underlying flood policy's limits of $500,000. The Court agreed, noting that while North Carolina appellate courts have not addressed the issue, courts from other jurisdictions have reached similar conclusions based on comparable policy language. The primary insurance company, also represented by the firm, is in ongoing litigation.
Learn more in "NC Judge Issues Split Hurricane Florence Coverage Ruling," published on October 15, 2021, in Law360.