State of California v. Continental Insurance Company
C.A. 4th; E064518 The Fourth Appellate District affirmed a judgment. The court held that the trial court properly found that an excess insurer’s…
October 02, 2017 at 06:35 PM
3 minute read
C.A. 4th;
E064518
The Fourth Appellate District affirmed a judgment. The court held that the trial court properly found that an excess insurer's policies were triggered as soon as the insured exhausted its retention for the specified policy period.
The State of California engaged in lengthy litigation to recover from various insurers the costs of cleaning up the Stringfellow hazardous waste site. In 2015, Continental Insurance Company paid the State its full policy limits of $12 million. The trial court ruled, among other things, that the State was entitled to mandatory prejudgment interest on that amount at seven percent, dating back to 1998, and thus totaling $13,914,082.09.
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