Assignment Is Valid; Coverage Owed For Environmental Claims, New Jersey Panel Says
Mealey's (August 18, 2015, 11:57 AM EDT) -- TRENTON, N.J. — An assignment of rights under numerous insurance policies issued between 1964 and 1986 is enforceable and valid because the insurers’ obligation to insure the risk under the policies was not altered by the assignment to a successor company, the New Jersey Superior Court Appellate Division said Aug. 12 (Givaudan Fragrances Corp. v. Aetna Casualty & Surety Co., et al., No. A-2270-12T4, N.J. Super., App. Div.; 2015 N.J. Super. LEXIS 131).
(Opinion available. Document #03-150819-011Z.)
During the 1960s and 1980s, the Givaudan Corp., which...