211075P.pdf   12/01/2021  Floyd County Mutual Insurance  v.  CNH Industrial America LLC
   U.S. Court of Appeals Case No:  21-1075
   U.S. District Court for the Northern District of Iowa - Eastern   
   [PUBLISHED] [Gruender, Author, with Smith, Chief Judge, and Stras, Circuit 
   Judge] 
   Civil case - Insurance. In a fire, a truck tractor and other property 
   covered under plaintiff's policy were damaged. The loss to the tractor was 
   $145,000, while the damage to other property was $22,781. Plaintiff 
   alleged it met the $75,000 amount-in-controversy threshold because it 
   could recover for both the tractor and the other property damage. The 
   district court held the recovery was limited to the other property and it 
   dismissed the case for failure to meet Sec. 1332's amount-in-controversy 
   requirement. While the Iowa Supreme Court has not dealt directly with the 
   question presented here, the court concludes that it would hold that the 
   economic loss doctrine permits recovery only for the other property 
   involved in the incident and not for the defective product itself; thus 
   the Iowa Supreme Court would bar recovery in tort for damage that a 
   defective product (here the truck tractor) causes to itself, even if the 
   plaintiff also seeks recovery to damage to other property lost in the 
   incident; here, plaintiff's recovery is limited as a matter of law to the 
   alleged $22,787 in damage to the other property and the 
   amount-in-controversy requirement is not met. Judge Stras, dissenting.