Perspective
Oct. 21, 2010
Northridge's Legal Aftershock
Inhibiting insurance companies' use of a release as a settlement device goes against public policy. By Deborah L. Stein of Simpson Thacher & Bartlett.
Nearly 17 years ago, a magnitude 6.7 earthquake brutally awakened Southern Californians in the early morning hours, hurling people from their beds, injuring thousands, and damaging or destroying hundreds of thousands of homes. The Northridge earthquake was the most devastating earthquake in the United States since the San Francisco earthquake of 1906, and produced the largest earthquake insurance loss to date - with more than $15 billi...
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