5th Circ. Clears Insurer In $20M Magnet Injury Settlement

By Ganesh Setty (January 18, 2022, 4:31 PM EST) -- News reports a toy company sent to its excess insurer detailing a toddler's severe injuries after he ingested magnetic toys do not count as a timely insurance claim under the company's policy, the Fifth Circuit ruled.

The Fifth Circuit's reversal of a lower court's ruling allows an insurer to escape paying a toy company's defense costs and contributing to a $20 million partial settlement in a case in which a 2-year-old child was injured after ingesting small magnets the company manufactured. (iStock Photo) Though a lower Mississippi district court found that Evanston Insurance Co. acted as if the reports Maxfield &...

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