Long Beach Gets $800,000 in Settlement with Insurer

The City of Long Beach has settled a lawsuit with its insurance company and will get back $800,000 that the city lost in damages during Hurricane Sandy.

Newsday reports that the city challenged its insurance company, Lexington Insurance, in 2013 after the company denied a claim for storm-related business interruption costs. The city received a $10 million payout from its insurer in 2012 to cover storm damage, as well as more than $100,000 for wind damage.

According to Newsday, the city claimed it also suffered $3.5 million in lost business revenue, the insurer argued that was covered in the initial $10 million payment. The $800,000 was agreed to by both parties.

For the full story, check out Newsday.

Photo: Patch