AMICO Ducks $42M Superfund Coverage Suit In 6th Circ.

Law360, New York (May 17, 2012, 4:37 PM EDT) -- The Sixth Circuit on Thursday affirmed a lower court's ruling that OneBeacon American Insurance Co. cannot compel American Motors Insurance Co. to contribute to covering $42 million in damages related to cleanup costs at a Kentucky Superfund site.

In a published opinion, a three-judge panel found that OneBeacon, which did not settle with a policyholder seeking coverage in a Superfund case, could not extract coverage from AMICO, which did settle, because Ohio law says that an insurer's policy can be exhausted by a settlement and that...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.