For a company as small as Fisker, Superstorm Sandy which ripped through the North-East of American late last year, was always going to be costly. When it was all said and done, 338 brand new Fisker Karma’s awaiting delivery at a holding facility at Port Newark were completely destroyed.
Now such a devastating loss could have easily sent Fisker into a frenzy, but they firmly believed their insurance provider, XL Insurance America would pay for all the damage, but as it turned out in December last year, XL Insurance America refused to provide Fisker with adequate compensation.
Fast forward three months, and the two have finally come to a mutual agreement and have agreed to drop the lawsuit. Although the terms of agreement remain confidential, it’s likely that the two companies found a middle-ground and decided that was the best move for the both of them.
Even though Fisker inevitably lost millions of dollars throughout the ordeal, it has agreed with XL Insurance to maintain their business relationship.
[Via Motor Authority]