State v. Signo Trading International, Inc.

The opinion of the Court was delivered by

CLIFFORD, J.

The Appellate Division held that the “owned property” exclusion in the defendant property-owner’s liability insurance policy relieved the third-party-defendant insurance carrier of any obligation to indemnify or defend its insured for its potential liability to the Department of Environmental Protection (DEP) *55for the cost of cleanup of toxic substances resulting from a fire on the insured’s property. State, Dep’t of Envtl. Protection v. Signo Trading Int’l, Inc., 235 N.J.Super. 321, 562 A.2d 251 (1989) (Signo Trading). We granted…