(Download) "City of Lynchburg v. Insurance Corp." by United States Court of Appeals for the Fourth Circuit # eBook PDF Kindle ePub Free
eBook details
- Title: City of Lynchburg v. Insurance Corp.
- Author : United States Court of Appeals for the Fourth Circuit
- Release Date : January 17, 1991
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 70 KB
Description
Defendants-appellants Ireland Insurance Company (""ICI""), Bowring Non-Marine Insurance Brokers, Limited, C.T. Bowring & Company (Insurance), Limited (collectively ""Bowring""), and Marsh & McLennan, Incorporated (""Marsh"") appeal an order of the United States District Court for the Western District of Virginia, Lynchburg Division resulting from a suit brought by the City of Lynchburg (""the City""). We find no errors and thus affirm the district court's order. This action arose from an insurance contract dispute between the City and ICI. ICI began insuring the City against property loss in 1984. At that time, ICI was the reinsurer, receiving 99% of the insurance premium paid by the City. In 1985, ICI became the direct insurer. A flood occurred on November 5, 1985 causing substantial damage to the City and its properties. After the flood, ICI paid the City approximately $3.2 million for flood damage but it denied coverage for an additional $1.4 million in damage to underground properties. ICI claimed that these losses were excluded from coverage. The parties vigorously contested whether the insurance contract covered underground properties at trial before the district court, sitting without a jury. The district court found that underground properties were included under the parties' insurance contract and ordered ICI to pay the remaining amount of damages.
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