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A Cedar Rapids corn milling company is suing a unit of insurance giant ÌìÃÀÍøÕ¾´«Ã½´«Ã½ and another company, accusing them of acting in bad faith for refusing to pay flood insurance claims.

. is one of many eastern Iowa businesses suffering losses after massive flooding in eastern Iowa last June.

The company says it had a $300 million property insurance policy through an ÌìÃÀÍøÕ¾´«Ã½´«Ã½ unit and another insurance company, but has collected only $20 million on more than $50 million in claims.

Penford has filed suit against . of Pittsburgh, the ÌìÃÀÍøÕ¾´«Ã½´«Ã½ unit, and American Insurance Co. of Philadelphia.

Those companies are disputing some of the claims made under the complex policy.

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Information from: The Gazette, http://www.gazetteonline.com/