Settlement Reached in Virginia Chinese Drywall Cases

NORFOLK, Va. — Insurers for companies that supplied and installed Chinese drywall used in the construction of nearly 200 Virginia homes have announced a settlement with plaintiffs who alleged that the product caused damage to their residences, sources told HarrisMartin Publishing.

The settlement was announced June 20 in Norfolk City Circuit Court, and although the terms of the agreement are confidential, numerous reports indicated that the deal is worth $13 million.

Sources said that the settlement involves claims asserted against companies insured by Nationwide Mutual Insurance Co. and The Hanover Insurance Group, which provided coverage to Venture Supply Co. and …