NJ Prods Policyholders, Insurers To Hammer Out Global Deals

Law360, New York (September 17, 2013, 7:36 PM EDT) -- New Jersey's Supreme Court on Monday cleared the way for insurers to sue fellow insurers to recoup defense costs in gradual property damage cases — even when other insurers have already settled with the policyholder — creating heavy pressure for all sides to strike global settlements.

The top court in New Jersey ruled that Pennsylvania Manufacturers' Insurance Co.'s settlement with general contractor Roland Aristone Inc. was no barrier to a lawsuit that OneBeacon Insurance Co. launched to win back some of the money it spent to...
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