Court upholds cutting $150 million in Nashville mall flood coverage
NASHVILLE, Tenn. (AP) – In a blow to the owner of Opry Mills Mall, the Tennessee Supreme Court has let stand a lower court’s ruling that stripped $150 million of insurance coverage for the 2010 flood. The state’s highest court announced Thursday that it would not hear an appeal from the Simon Property Group.
The mall was submerged in 10 feet (3 meters) of water during the flood that killed 10 people in Nashville. It took two years for the property to be rebuilt and cost millions of dollars.
A jury awarded the property group $200 million from a group of insurers. But an appeals court said the company was only due $50 million, which was the limit for properties listed in “high hazard flood zones.”
A Simon group attorney didn’t immediately return a call.
(Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)