Opry Mills Says Insurers Refuse To Pay For Flood Coverage
NASHVILLE, Tenn. – The owners of Opry Mills Mall have filed a lawsuit against its insurers because they said they have refused to pay for flood insurance coverage.
The lawsuit was filed Tuesday in Davidson County Chancery Court by Opry Mills Mall Limited Partnership. It stated the insurers have refused to honor their contractual commitment to pay up to $200 million for flood insurance coverage.
Opry Mills said their policy provides $200 million in flood insurance coverage, but the lawsuit states that the insurance companies providing the coverage represented that the coverage was available prior to the loss, but now refuse to provide it.
Opry Mills Mall was severely damage during the May Floods. Losses to the property are currently estimated to exceed $200 million. Opry Mills has already spent nearly $50 million on repairs in order to reopen as soon as possible.
Opry Mills said the longer they are delayed by the insurance company failing to live up to their obligations, the longer it will be before they can reopen.