The New Jersey Supreme Court has ruled that Givaudan, the world’s largest manufacturer of flavors and fragrances, can demand up to $500 million in insurance coverage for environmental damage it caused at its operations in Clifton, even though one of its units transferred its coverage to another unit.
Justice Jaynee LaVecchia, writing for the court on Wednesday in Givaudan v. Aetna, said New Jersey would adhere to the doctrine that an anti-assignment clause in an insurance policy may not bar the assignment of a post-loss claim.
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