Chubb Beats NY Chocolate Maker Over Hurricane Sandy Damages

A Chubb Ltd. unit is off the hook for over $50 million sought by Madelaine Chocolate Co. to cover damages caused by Hurricane Sandy in 2012 at its New York facilities.

The ruling Friday by the US Court of Appeals for the Second Circuit hands a win to the insurance giant after the appeals court previously vacated a federal judge’s ruling siding with the carrier, leading to a rare jury trial over insurance coverage for flood-related damages.

“We cannot say that there was no ‘legally sufficient evidentiary basis’ for the jury to return a verdict in favor of” Great Northern ...