XL Settles With Fisker In $32M Suit Over Sandy Damage

Law360, New York (February 21, 2013, 6:31 PM EST) -- Fisker Automotive Inc. has struck a private deal with XL Insurance America Inc. to end its lawsuit in New York state court over coverage for Superstorm Sandy's destruction of hybrid electric cars worth $32 million, attorneys told Law360 Thursday.

Anaheim, Calif.-based Fisker argued in the suit that XL must cover its loss of virtually its entire available U.S. inventory of Karmas, vehicles left ruined after Sandy flooded a Port Newark, N.J., facility. On Thursday, Fisker and XL asked a New York state court to dismiss the...
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