Sandy-Related Time Element Losses Subject to $25 Million Flood Sub-Limit, Del. Judge Rules

WILMINGTON, Del. — A $25 million flood sub-limit in a commercial policy applies to Superstorm Sandy-related claims for time element losses under the clear and unambiguous language of the policy, a Delaware state judge has ruled.

In a Jan. 27 opinion, Judge Eric Davis of the Delaware Superior Court further held that the plaintiff’s other claims for non-physical damages and losses must be considered on an item-by-item basis.

Almah LLC and SL Green Realty Corp. own a property at 180 Maiden Lane in New York that had been damaged by Superstorm Sandy in October 2012. The property was covered by …