Whoa boy. According to Reuters, Fisker has been denied some $33 million in damages by its insurance company, XL Group PLC, for 338 Karma sedans that were destroyed by Superstorm Sandy while at port in New Jersey. Not surprisingly, Fisker is suing the insurer, which is based in Dublin, Ireland but has offices in the US.
According to the report, the policy Fisker had obtained from XL covered the automaker for damages up to $100 million. At issue are important details that include "whether the cars were in "transit," and which sublimits may apply, if any," according to David Klein, a partner at Orrick Herrington & Sutcliffe, in a phone interview with Reuters.
Fisker's 338 Karma sedans are just a few of the estimated 10,000 vehicles destroyed at the shipping facility in New Jersey. Total vehicular losses from Sandy, both new and used, are thought to have crested 200,000 units.