"There certainly will be a short-term jump in the number of insurance companies filing suit in Delaware" because of the Rite Aid ruling, said Michael Miguel, a Los Angeles-based insurance lawyer with McKool Smith. (Credit: Svyatoslav Lypynskyy/Adobe Stock)
(Bloomberg) — A multibillion-dollar bill is coming due for the U.S. opioid epidemic and insurers for some of the largest drug makers, distributors and pharmacies are refusing to help pay for it.
A Delaware Supreme Court ruling in January has emboldened insurers eager to avoid massive policy claims from companies proposing to settle liability lawsuits over opioids. Half a dozen complaints have been filed in Delaware in the past two months, seeking court approval to block coverage of everything from cash damages to attorneys fees for companies including CVS Health Corp. and AmerisourceBergen Corp.
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