Insurer Unsuccessful in Effort to Limit Exposure for OxyContin Lawsuits

STAMFORD, Conn. - A $2 million indemnity limit for products/completed operations doesn't limit coverage for defense costs incurred by Purdue Frederick Co. in OxyContin litigation, a Connecticut Superior Court held Sept. 1. Steadfast Insurance Co. v. The Purdue Frederick Co., et al., No. X08CV020191697S (Conn. Super., Stamford).

The ruling was a blow to Steadfast Insurance Co., which filed the declaratory judgment action in 2002 seeking to limit its overall exposure for an estimated $250 million spent in defense costs to date.

At issue is coverage available under a products/completed operations binder issued by Steadfast to The Purdue Frederick Co. for …