N.J. High Court: Insurance Guaranty Is Not Liable Until Policy Limits Are Exhausted

N.J. High Court: Insurance Guaranty Is Not Liable Until Policy Limits Are Exhausted

TRENTON, N.J. - The New Jersey Property-Liability Insurance Guaranty Association (NJPLIGA) acting on behalf of an insolvent insurer is not responsible for reimbursement payments for environmental claims unless a solvent carrier's policy limits are first exhausted, the New Jersey Supreme Court ruled Sept. 24 (Farmers Mutual Fire Insurance Company of Salem v. New Jersey Property-Liability Insurance Guaranty Association as administrator of claims against Newark Insurance Co., No. 068824, N.J. Sup.; 2013 N.J. LEXIS 902).

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