Read Consolidated Cos. Inc. v. Lexington Ins. Co., 09-30178

In an action against a commercial-property insurer seeking proceeds arising out of Hurricane Katrina-related damages, judgment for plaintiff is affirmed in part where: 1) plaintiff was not required to draw a bright line in its evidence between loss stemming from property damage and loss stemming from market conditions; and 2) the district court did not abuse its discretion in granting defendant's motion to enter a remittitur adjusting the verdict downward by $3 million. However, the judgment is vacated in part where the district court informed jurors that the policy was designed to place the insured in the position that it would have been in if there had been no interruption, but the court did not allow jurors to make the reduction for charges and expenses necessary to do that.

Appellate Information

• Decided 08/18/2010
• Published 08/18/2010

Judges

• Leslie H. Southwick

Court

• United States Fifth Circuit

Counsel