Yacht Company Sues Insurers in N.J. Federal Court for Storm-Related Damage Coverage

TRENTON, N.J. — A yacht company has sued its insurers in New Jersey federal court, demanding coverage for damage to its premises and property caused by two heavy rainstorms in 2011.

The complaint, which was removed to the U.S. District Court for the District of New Jersey on May 11, accuses insurers Travelers and St. Paul Fire & Marine Insurance Co. of breaching a builder’s risk policy and a marine general liability policy.

Cherubini Yachts is in the business of custom and semi-custom yacht, boat, and vintage boat design, manufacture, building, repair, restoration, and storage. On April 5, 2011, a …