The owners of Opry Mills are asking the Tennessee Supreme Court to reverse a ruling that reduced their 2010 flood insurance coverage from $200 to $50 million. Severe flooding closed the Nashville, Tenn., shopping mall for an extended period.
After an initial cleanup, progress on the reconstruction had been stalled for months because insurers would provide only $50 million. The Mills company said the mall suffered more than $200 million in damage and filed suit in 2011 against 17 insurance companies claiming they owed another $150 million.
The Tennessean reports the Simon Property Group filed an appeal Friday with the state Supreme Court. It seeks to overturn an appeals court decision in favor of Arch Insurance Company.
The Opry Mills mall was caught in the 2010 flooding of the Cumberland River. Ten feet of water submerged the huge shopping center, causing millions in damage.
In January, the Court of Appeals ruled that Opry Mills fell under a $50 million coverage limit for properties listed in “high hazard flood zones.”
The appeals court reversed a jury award of nearly $200 million.
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