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3 Feb 2012

Insurance Journal

Virginia Court Grants Rehearing of Global Warming Claims Case [USA]

...[T]he Virginia Supreme Court stated that “upon consideration of the [AES Corp.'s] petition to set aside the judgment...it is ordered that the said judgment be set aside and a rehearing is granted.” Last September, the high court affirmed a lower court’s decision that Steadfast Insurance, which provided commercial general liability (CGL) coverage for...energy company AES...has no duty to defend and indemnify the insured for claims arising from a global warming lawsuit...This case has been closely watched by the insurance industry because it’s the first case of its kind in the country to reach an appellate court. The case asks whether an insurer offering a CGL policy is liable for claims when the insured is accused of contributing to the climate change and causing environmental damage...The case centers around AES and a lawsuit filed against the company by a village in Alaska.