The Virginia Supreme Court has ruled in favor of an insurance company in a case that legal experts say is the first in the nation on whether insurers may be liable for claims arising from global warming.
The court unanimously ruled Friday that a native Alaskan village’s claims against AES Corp. were not covered by the Virginia-based energy company’s liability insurance carrier, Steadfast Insurance Co. The ruling upheld a lower court decision.
Kivalina, a native community on an Alaskan barrier island, alleged in a 2008 lawsuit that greenhouse emissions by AES and other companies damaged the village by causing global warming. Steadfast claimed it did not owe AES a defense or indemnity coverage because the complaint did not allege an “occurrence” of property damage.
Was this article valuable?
Here are more articles you may enjoy.
US Truck Rates at Highest Since 2022 Add to Inflation Pressures
California’s Surplus Lines HO Market’s New Phase Driven by Access, Not Wildfire Risk
Secret Codes and Yuan Fees Get Ships Through Iran’s Hormuz Tollbooth
Axios Software Tool Used by Millions Compromised in Hack