Condo Says Insurance Agent Procured Inadequate Flood Coverage; Demands $180,000

NEW YORK — The owner of a New York condominium has sued its insurance agent for more than $180,000 in damages caused by Superstorm Sandy, alleging the agent negligently failed to procure adequate flood insurance.

The Oct. 9 complaint filed in the New York County Supreme Court says North Shore Management LLC failed to procure a policy through the National Flood Insurance Program (NFIP) with sufficient coverage limits, while assuring the condo owner that it was adequately covered.

According to the suit, in 2001, the 7th Street East Condominium retained North Shore to obtain coverage for the building and personal …