Yokohama Owes $4M For Crash Settlement: Costco Insurer
By Bonnie Eslinger (September 1, 2015, 11:07 PM EDT) -- Costco Wholesale Corp.'s insurer told a California appeals court Tuesday that Yokohama Tire Corp. should cover the $4.3 million settlement it paid after a fatal wreck allegedly caused by a defective Yokohama tire sold at a Costco store, arguing a trial judge erred in finding their indemnity agreement had ended.
Tuesday's hearing stems from a tangle of litigation resulting from a 2001 rollover crash in Arizona that left the driver, 58-year-old Jack Daer, a quadriplegic. Daer sued Costco in state and federal court, and the retailer settled on the eve of trial for $5.5 million, of which the retailer's insurer, National...
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