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Home / Opinion Digests / Insurance / Insurance – Excess Level – Public Utilities – Coal Ash – ‘Ultimate Net Loss’ – ‘Adjudication or Compromise’ – Legislation (access required)

Insurance – Excess Level – Public Utilities – Coal Ash – ‘Ultimate Net Loss’ – ‘Adjudication or Compromise’ – Legislation (access required)

The moving defendants’ insurance policies limit the plaintiff-insured’s recovery to “ultimate net loss,” which is defined as a legal obligation imposed “either by adjudication or compromise.” Defendants interpret this definition to exclude the costs of closing a facility where the closing is a result of a legislative mandate, which was not procured through an adjudicatory ...

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