An insurance company does not have to indemnify Keyspan Gas East Corp.’s environmental cleanup losses connected to periods of time when the relevant insurance was not available in the marketplace, a New York appeals court has found.
In an issue of first impression in the state’s appellate courts, the Appellate Division, First Department reversed a lower court ruling Thursday and found that Century Indemnity Co., an insurer sued by Keyspan, was not responsible for compensating the gas company for time frames before 1953 and after 1969 when the relevant liability insurance “was otherwise unavailable.”
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