In a recent called customer warning, the lawyers Hunton & Williams Lorelie Masters, Michael Levine and Geoffrey Fehling discuss the importance of reviewing historical liability insurance and the potential benefit that these policies may have to minimize environmental exposure. In Cooper Industries, LLC vs. Employer Insurance by Wausau et al., No. L-9284-11 (NJ Super. Ct. Law Div. October 16, 2017), a New Jersey trial claimed that a manufacturer of electrical products was eligible for coverage rights in accordance with commercial public liability policy issued to a precursor for environmental management costs arising from an American Environmental Protection Agency cleaning up a 1
As explained in the linked customer notice, Cooper emphasizes the need to both (1) preserve insurance assets in the structuring of mergers, acquisitions and other transactions to minimize the risk of subsequent liability exposure and (2) carefully consider whether a claim can also trigger historical insurance that can provide broader coverage than is available under later policies.