The Insurance Coverage Law Information Center
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Superstorm Sandy: Sullivan & Cromwell Sues 4 Insurers, Seeking Over $25 Million in Damages

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Superstorm Sandy: Sullivan & Cromwell Sues 4 Insurers, Seeking Over $25 Million in Damages. The owners of 125 Broad Street in Manhattan are suing four insurance carriers in a New York state court for more than $25 million in Superstorm Sandy damages, asserting that the insurers failed to pay for the “vast majority of the losses covered” by their policies.

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Superstorm Sandy: Sullivan & Cromwell Sues 4 Insurers, Seeking Over $25 Million in Damages

  1. 1. The Insurance Coverage Law Information Center The following article is from National Underwriter’s latest online resource, FC&S Legal: The Insurance Coverage Law Information Center. SUPERSTORM SANDY: SULLIVAN & CROMWELL SUES 4 INSURERS, SEEKING OVER $25 MILLION IN DAMAGES May 22, 2014 Steven A. Meyerowitz, Esq., Director, FC&S Legal The owners of 125 Broad Street in Manhattan are suing four insurance carriers in a New York state court for more than $25 million in Superstorm Sandy damages, asserting that the insurers failed to pay for the “vast majority of the losses covered” by their policies. The owners of the building include the American Civil Liberties Union and the law firm of Sullivan & Cromwell. The complaints assert that the total amount of “insured losses,” prior to application of the policies’ flood-related sublimits, was $47,971,994. According to the complaints, 125 Broad is a commercial condominium formed under New York law that “sustained severe physical damage as a result of Superstorm Sandy, including damage from flooding caused by Superstorm Sandy.” The cases are: The 125 Broad Condominium v. Ace American Ins. Co.; The 125 Broad Condominium v. Arch Ins. Co.; The 125 Broad Condominium v. Westport Ins. Co.; and The 125 Broad Condominium v. XL Ins. America, Inc. Attorneys for the plaintiff are: Robert A. Sacks, Mark F. Rosenberg, Yavar Bathaee, and Jeffery B. White, Sullivan & Cromwell LLP. Learn more: Arch Insurance Complaint Ace American Complaint Westport Insurance Complaint XL Insurance Complaint Call 1-800-543-0874 | Email customerservice@SummitProNets.com | www.fcandslegal.com
  2. 2. Call 1-800-543-0874 | Email customerservice@SummitProNets.com | www.fcandslegal.com Copyright © 2014 The National Underwriter Company. All Rights Reserved. NOTE: The content posted to this account from FC&S Legal: The Insurance Coverage Law Information Center is current to the date of its initial publication. There may have been further developments of the issues discussed since the original publication. This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is sold with the understanding that the publisher is not engaged in rendering legal, accounting or other professional service. If legal advice is required, the services of a competent professional person should be sought. For more information, or to begin your free trial: • Call: 1-800-543-0874 • Email: customerservice@SummitProNets.com • Online: www.fcandslegal.com FC&S Legal guarantees you instant access to the most authoritative and comprehensive insurance coverage law information available today. This powerful, up-to-the-minute online resource enables you to stay apprised of the latest developments through your desktop, laptop, tablet, or smart phone —whenever and wherever you need it.

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