The appeals court upheld the lower court's August 2010 order that granted the insurers judgment as a matter of law, shooting down Colorado-based Penford Corp.'s argument that its policy should be construed in its favor because it is ambiguous.
Law360, Chicago (November 29, 2011) -- The Eighth Circuit on Tuesday affirmed a decision letting National Union Fire Insurance Co. of Pittsburgh, Pa., and Ace American Insurance Co. off the hook in an industrial ingredient maker's Iowa suit alleging they owed nearly $27 million in flood damage coverage.
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