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Tuesday, July 19, 2011

Passaic Valley Sewerage Commissioners v. St. Paul Fire and Marine Insurance (A-97-09; 065793) 6-21-11

6-21-11 Passaic Valley Sewerage Commissioners v. St. Paul Fire and Marine Insurance Company (A-97-09; 065793)

Under the terms of a policy that defines “loss” as “money damages,” an insurer has no obligation to indemnify its insured for the value of a settlement consisting of services and transferred assets.