Olin, OneBeacon Resolve Cleanup Coverage Fight

Law360, New York (September 16, 2011, 8:52 PM EDT) -- Chemical producer Olin Corp. on Thursday settled its claims against OneBeacon American Insurance Co. over coverage for the cleanup of groundwater contamination in Northern California, as part of a massive ongoing legal battle dating back to 1984.

U.S. District Judge Thomas P. Griesa signed off on the parties' confidential settlement, which covers Olin's allegations that the insurer owed it coverage for costs related to the cleanup of potassium perchlorate that seeped into a groundwater basin near the company's signal flare manufacturing facility in Morgan Hill, Calif....
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