Zurich Settles Coverage Suit Over Cracked Reservoir

Law360, New York (August 10, 2010, 1:20 PM EDT) -- Barnard Construction Co. Inc. and Zurich American Insurance Co. have settled their coverage dispute over a suit brought by a Tampa, Fla., municipal water authority alleging an $86 million drinking water reservoir was defective.

Judge James Whittemore of the U.S. District Court for the Middle District of Florida signed off on a deal between the two parties Monday, dismissing the case without prejudice and allowing either to reopen the action if the settlement is not consummated within 60 days.

Terms of the agreement were not disclosed...
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