Macy's resolves matter in voluntary mediation with its captive insurer for coverage arising out of department store damages by hurricanes Katrina and Wilma
Clients Macy's, Inc.
Jones Day represented Macy's in a multi-million dollar suit to recover unpaid insurance proceeds for property damage and business interruption sustained at more than 20 department stores in Florida and Louisiana as a result of Hurricanes Katrina and Wilma, including stores that required virtually complete replacement. The risks insured by the insurance policy were reinsured by a group of global reinsurance companies. Following more than 18 months of litigation and cross motions for summary judgment, the parties resolved the matter in voluntary mediation in April 2008.
Federated Department Stores, Inc. v. Federated Department Stores Insurance Co., Inc., Civil Action No. 06-22147-CIV-King-Garber (S.D. Fla.)