NJ Ruling Protects Insureds From Insolvent Carrier Gaps

Law360, New York (October 10, 2013, 7:50 PM EDT) -- A recent New Jersey Supreme Court holding that insureds shouldn't be left holding the bag for an insolvent insurer's share of cleanup costs in long-running environmental contamination is a major win for policyholders and will be an important tool in settlement talks, attorneys say.

Attorneys for policyholders are cheering the Sept. 24 opinion in Farmers Mutual Fire Insurance Co. v. New Jersey Property-Liability Insurance Guaranty Association. The ruling means that, when an insolvent insurer is among those on the hook in continuous trigger cases, solvent insurers...
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.