Tower Insurance Says Coverage Unavailable for Chinese Drywall Claims

MIAMI — Tower Insurance Co. of New York has filed a declaratory judgment action in Florida, arguing it has no duty to defend or indemnify a homebuilder for claims asserted in a Chinese drywall class action pending in Louisiana. Tower Insurance Co. of New York v. F Development LLC, et al., No. 12-22243 (S.D. Fla.).

In a June 14 complaint filed in U.S. District Court for the Southern District of Florida, the insurer says that a policy it issued the builder did not list the property allegedly damaged by drywall and was not in effect at the time the underlying …