Business Services Industry
Court sides with excess insurers in cleanup cost allocation dispute.(Olin Corp. vs. Certain Underwriters at Lloyd's of London and London Market Insurance Companies)
Business Insurance, November, 2006 by Roberts, Sally
Byline: SALLY ROBERTS NEW YORK-Improper jury instruction on the definition of property damage in a pollution liability coverage case led a district court to allocate cleanup costs over too few policy years, an appellate court has ruled. As a result, the case involving cleanup costs for environmental contamination at four sites near Niagara Falls, N.Y., owned by Clayton, Mo.-based Olin Corp., has been remanded to district court.
Applying the federal Comprehensive Environmental Response, Compensation, and Liability Act, the New York State Department of Environmental Conservation ordered Olin to clean up the sites in the early 1980s. Olin sought indemnification from various insurers, including certain underwriters at Lloyd's of London and London-market...
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