Passaic Valley Sewerage Commissioners, Irene G. Almeida, James Krone, Frank J. Calandriello, Jr., Dominic W…

Summary

The Supreme Court of New Jersey affirmed the Appellate Division, holding that the insurer’s policy definition of “loss” as “money damages” does not cover the value of non‑monetary settlement performance, and that the insurer fulfilled its duty to defend. Accordingly, the insurer owed no indemnification for the settlement and was not liable for attorney’s fees. The Court relied on plain‑language interpretation of the policy and affirmed the lower courts’ discretionary rulings.