STORY FROM: Superstorm Sandy Insurance Litigation

Parties Agree to Dismissal of $1.1 Million Dispute Over Coverage for World Financial Center Flood Damage

NEW YORK — A $1.1 million Superstorm Sandy property damage coverage action filed by a tenant of 2 World Financial Center against Allianz Global Risks US Insurance Co. has been dismissed with prejudice pursuant to a stipulation by the parties.

According to a Jan. 29 filing in the U.S. District Court for the Southern District of New York, neither party sought costs or attorney’s fees.

Nomura Holding America Inc. was insured under an Allianz commercial lines policy, which provided broad coverage of up to $325 million for the period of Dec. 8, 2011, to Dec. 8, 2012. The perils insured ...

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