Multiple Policy Limits In Enviro Cleanup Actions

Law360, New York (March 30, 2009, 12:00 AM EDT) -- A policyholder defending against a lawsuit for environmental cleanup costs often faces hurdles in obtaining insurance coverage for defense and indemnity of the lawsuit. Many newer policies, for example, contain the "absolute" pollution exclusion, which is designed to bar recovery for cleanup costs.

Older policies without this exclusion potentially provide coverage for cleanup actions, because such actions typically allege contamination over the course of years or even decades.

Although insurers take the position that these older policies exclude coverage for the effects of gradual pollution, they...
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.