Insurance Not Liable for Global Warming Claims

By:  Rebecca Terrell
09/20/2011
       
Insurance Not Liable for Global Warming Claims

The Virginia Supreme Court has ruled in favor of an insurance carrier in an unprecedented case involving global warming. The court unanimously held that Steadfast Insurance Company is not obligated to cover court costs for the Virginia-based energy group AES Corporation under its liability policy in another lawsuit before the Ninth Circuit Court of Appeals in California.AES is one of 24 companies sued in that case by an Alaskan coastal village for damage to its community from global warming.

The villagers of Kivalina blame greenhouse gas emissions from the defendants' business operations for shoreline erosion they say will force relocation of their town. The ruling for Steadfast sets a precedent that businesses involved in climate change liability lawsuits may not be covered by their liability policies.

The Virginia Supreme Court has ruled in favor of an insurance carrier in an unprecedented case involving global warming. The court unanimously held that Steadfast Insurance Company is not obligated to cover court costs for the Virginia-based energy group AES Corporation under its liability policy in another lawsuit before the Ninth Circuit Court of Appeals in California.AES is one of 24 companies sued in that case by an Alaskan coastal village for damage to its community from global warming.

The villagers of Kivalina blame greenhouse gas emissions from the defendants' business operations for shoreline erosion they say will force relocation of their town. The ruling for Steadfast sets a precedent that businesses involved in climate change liability lawsuits may not be covered by their liability policies.

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