Hazy Outlook May Push More Insurers To Settle Drywall Claims

Law360, New York (June 21, 2012, 8:55 PM EDT) -- Lingering uncertainty about whether pollution exclusions bar coverage for defective drywall claims might inspire more insurance settlements like the $13 million deal unveiled Wednesday with The Hanover Insurance Group Inc. and Nationwide Mutual Insurance Co., attorneys say.

The two insurers' proposed settlement with Virginia homeowners in the massive multidistrict litigation in Louisiana came on the heels of scores of insurers participating in another major settlement in the MDL — an $80 million deal that received preliminary approval at the end of May.

Insurers have commonly argued...
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