Ruling leaves insurers exposed to environmental claims

A 1989 settlement that released insurers, including a Liberty Mutual Holding Co. Inc. subsidiary, from any future claims arising from environmental contamination at five facilities did not include a New Jersey storage battery facility because it was not specifically named, says a federal appeals court in a divided opinion that overturns a lower court ruling...

...After Waukesha, Wisconsin-based Cooper Industries acquired McGraw-Edison, it discovered that several of McGraw’s factories, including the Primary Battery plant, had potentially contaminated the environment...

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Ken Notes: This is going to be a problem going forward and I wonder how it will effect negotiated settlements...