Allianz Can't Call £10M Property's Issues Snags, Owner Says

Law360, London (June 27, 2019, 9:12 PM BST) -- The owner of a £10 million London building has rejected Allianz's claim that water damage to the multi-use development was minor, post-construction "snagging work" that fell outside the developer's insurance policy.

In a London High Court filing, Regal Wenlock Road Ltd. accused Allianz Global Corporate Specialty AG of trying to escape its obligation under a Housing Warranty Insurance Policy to pay for the cost of refurbishing the inner London property, known as The Cube.

Regal Wenlock Road is seeking declarations that Allianz is not entitled to rely on an exclusion over losses caused by water damage discovered by the property owner after...

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