WASHINGTON--Insurance companies will be forced to pay huge costs resulting from litigation that will follow the Supreme Court's decision yesterday allowing states and municipalities to sue companies over greenhouse gas emissions, according to one legal expert.
"Insurers will pick up much of the tab, pollution exclusions notwithstanding," said James Davis, managing partner of the Chicago office of Anderson Kill & Olick, who foresees emission claims rivaling the cost of asbestos injury actions.
Mr. Davis advises insurers and their policyholder companies to try and negotiate an agreement with governments on global warming issues to avoid a wave of major mass torts.
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