The owners of Opry Mills are asking the Tennessee Supreme Court to reverse a ruling that reduced their 2010 flood insurance coverage from $200 to $50 million.
The Tennessean reports the Simon Property Group filed an appeal last month with the state Supreme Court. It seeks to overturn an appeals court decision in favor of Arch Insurance Company.
The Opry Mills mall was caught in the 2010 flooding of the Cumberland River. Ten feet of water submerged the huge shopping center, causing millions in damage.
In January, the Court of Appeals ruled that Opry Mills fell under a $50 million coverage limit for properties listed in “high hazard flood zones.”
The appeals court reversed a jury award of nearly $200 million.
Was this article valuable?
Here are more articles you may enjoy.
US P/C Underwriting Results: Two Years in a Row Over $20 Billion in the Red 
Home Insurance at $10,000 a Year Shows California Buyers’ Pain 
Big ‘I’ Report: Independent Agency Channel Placed 62% of Premiums in 2023 
As Rates Rise, Majority of Homeowners Say Insurance Industry Is in Crisis: Survey 
