NM High Court Reverses Allstate Win In Enviro Coverage Suit

Law360, New York (August 28, 2012, 1:41 PM EDT) -- The New Mexico Supreme Court on Thursday overturned an Allstate Insurance Co. victory in a dispute with United Nuclear Corp. over coverage of a 1979 uranium mine breach, concluding that the term "sudden" does not have a single clear meaning.

Taking on an issue of first impression in New Mexico regarding a pollution exclusion clause that barred insurance coverage unless the events were "sudden and accidental," the high court found that a state appeals court incorrectly held that the word "sudden" is unambiguous and "signifies quick,...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.