Liberty Mutual Settles $50M Hurricane Ike Coverage Suit

Law360, New York (January 31, 2012, 1:16 PM EST) -- Liberty Mutual Group on Monday settled a $50 million Hurricane Ike coverage lawsuit with JSW Steel Inc., two weeks after a jury trial was stopped midstream so the parties could hammer out an agreement.

The terms of the proposed settlement, filed in Texas federal court, are confidential, said JSW Steel's lead trial lawyer, Hunter M. Barrow of Thompson & Knight LLP.

"JSW is pleased with the settlement," Barrow said. "We are confident that the evidence supported our claims."

Liberty Mutual was not immediately available for comment....
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