According to Reuters, Fisker Automotive has been denied over $33 million in damages by XL Group PLC insurance company. 338 Fisker Karma electric vehicles were destroyed in Hurricane Sandy while awaiting shipment at port in New Jersey.
The policy Fisker had from XL covered up to $100 million in damages, but the issue is whether the cars were in transit and which sublimits may apply, if any.
The 338 Fisker Karma plug-in hybrid electric vehicles are just some of the estimated 10,000 vehicles destroyed at the shipping facility.
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