The state Supreme Court is limiting an insurance company’s payout in a massive northwestern Wisconsin wildfire.
Logging equipment owned by Ray Duerr Logging LLC sparked the Germann Road Fire in Douglas County in May 2013. The fire consumed about 7,442 acres, destroyed 17 homes and forced dozens to evacuate.
Secura Sigorta insured Duerr at the time of the fire. The policy contained a $ 500,000 increase limit for damages resulting from the total $ 2 million-off-record and fire.
A state appellate court decided to implement the $ 2 million limit and said there was an incident in the spread of a new property part of the fire.
The Supreme Court found that the decision of 29 October was a single incident and that the $ 500,000 limit was valid.
Legal warning !
The information, comments and suggestions there are not covered by investment advice. It is based on the author's personal opinions. These views may not fit your financial situation and risk and return preferences. For this reason, based solely on this information, investment decisions may not have the appropriate consequences for your expectation. Our Site is not responsible for any direct or indirect damages incurred by the investors as a result of the use of the information on the Site, deficiencies in the sources, damages incurred by profit, moral damages, or damage to third parties.