STORY FROM: Superstorm Sandy Insurance Litigation
Superstorm Sandy Insurance Subrogation Action Reinstated Against Fine Art Storage Company
March 21, 2016
NEW YORK — A New York appellate court has reinstated a Superstorm Sandy subrogation action against an art storage company, ruling that a waiver of subrogation contained in the loss/damage waiver in the agreement at issue is unenforceable under the Uniform Commercial Code.
In a March 17 order, the New York Supreme Court, Appellate Division, 1st Department, explained that “provisions purporting to exempt the bailee from liability for damage to stored goods from perils against which the bailor had secured insurance, even when caused by the bailee's negligence, have been held to run afoul of the statutory scheme of UCC ...
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