5th Circuit Court of Appeals Affirms Texas District Court’s Ruling in Property Insurance Policy Case

The 5th Circuit Court of Appeals agreed with a Texas district court that equipment lease company, Sierra Equipment, Inc. doesn’t have a leg to stand on in their suit brought against Lexington Insurance. Sierra alleged that Lexington was obligated to cover damages to Sierra-owned equipment leased to LWL Management, who was insured by Lexington, despite there being no coverage agreement between LWL and Lexington that included Sierra as a party to LWL’s policy with Lexington. Read more here.