Berkshire Insurer Pays $22M To Settle Ford Coverage Row

Law360, New York (October 7, 2013, 1:52 PM EDT) -- Ford Motor Co. has scored a $22.1 million settlement of its accusations that a Berkshire Hathaway Inc. unit seized control of several stop-loss insurance policies and tortiously obstructed $20 million in payouts for product liability claims, Ford's counsel said on Monday.

Ford will drop a Virginia federal lawsuit alleging National Indemnity Co. took over the handling of Ford's claims for reimbursement under policies with the financially troubled German insurer HDI-Gerling and refused to release $20 million Ford was owed.

NICO tied up Ford's claims so its...
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