American Home Settles Chinese Drywall Indemnity Row

Law360, New York (August 12, 2011, 6:14 PM EDT) -- American Home Assurance Co. on Friday settled a long-running battle with a developer and two contractors over coverage of $15 million in damage allegedly caused by faulty Chinese drywall at a Florida condominium.

U.S. District Judge Patricia A. Seitz approved the settlement between the insurer and Peninsula II Developers Inc., Gryphon Construction LLC and Skyline Systems LLC after a joint motion to dismiss was filed Thursday.

The parties dropped all claims against one another for defense, indemnity and bodily injury under the insurance policies at issue...
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