The Insurance Journal is reporting a settlement agreement has been reached with a New Orleans, La.-based supplier of tainted Chinese drywall in the multi-district litigation (MDL 2047) over the product. Attorney Russ Herman of the law firm Herman, Herman, Katz & Cotlar, L.L.P., said the settlement with Interior/Exterior and its insurers is the first settlement in the MDL with a major supplier of the Chinese drywall. “Following Court approval, Plaintiffs will proceed to trial later this year against Interior/Exterior’s excess insurers who carry more than $72,000,000 in coverage,” Herman said. You can see the complete article here.