Owned-Property Exclusion Bars Coverage For Most Expenses Incurred After Collapse

Mealey's (October 31, 2022, 11:25 AM EDT) -- NEW ORLEANS — The Fifth Circuit U.S. Court of Appeals on Oct. 28 affirmed a district court’s ruling that an owned-property exclusion precludes coverage for most of the expenses incurred by a city following the collapse of an insured building because the expenses were incurred to restore or maintain the building, both of which are excluded causes of loss under the owned-property exclusion....