Allied Holdings, Inc. Dismisses Lawsuit
24 July 2000
Insurance Carrier Acknowledges CoverageDECATUR, Ga. - Allied Holdings, Inc., parent company of the world's largest automotive distribution and logistics network, disclosed today that National Union Fire Insurance Company of Pittsburgh, PA, has acknowledged insurance coverage relating to approximately $20 million of a $35 million judgment previously entered against Commercial Carriers, Inc., a subsidiary of Allied Automotive Group. As a result, CCI has insurance coverage for the entire amount of this judgment. National Union has also unconditionally withdrawn a previously issued reservation of its rights and defenses relating to this judgment, and Commercial Carriers, Inc. has agreed to dismiss, without prejudice, the lawsuit it previously filed against National Union relating to this matter. Allied Holdings, Inc. is the parent company of several subsidiaries engaged in providing logistics, distribution and transportation services to the automotive industry. The services of Allied's subsidiaries span the entire finished vehicle distribution continuum, and include logistics, car- hauling, intramodal transport, inspection, accessorization, and dealer prep. Allied, through its subsidiaries, is the largest company in North America specializing in the delivery of new and used vehicles.