Insurance companies sued for payment of Chinese drywall claims
Thursday, January 7, 2010
Bloomberg: The trust formed to assume claims against bankrupt homebuilder WCI Communities for harm caused by the company’s use of defective Chinese drywall now wants 14 insurance companies, including units of American International Group Inc. (AIG), to pay up. Erik Larson reports the insurers are being sued in an effort to force them to pay more than $200 million in settlements to more than 700 homeowners. The drywall is alleged to have caused health problems as well as premature corrosion of wiring.