Anco, First State Settle Asbestos Coverage Suit

Law360, New York (August 22, 2011, 1:41 PM EDT) -- Anco Industries Inc. on Friday resolved claims against First State Insurance Co. in Louisiana over the insurer's alleged failure to indemnify the company for asbestos exposure suits, making it the first insurer Anco has dropped from the litigation in nearly three years.

The asbestos insulation company and two of its primary insurers, American Guarantee & Liability Insurance Co. and Zurich American Insurance Co., filed a joint stipulation and motion for dismissal with excess insurer First State. The settlement calls for each party to pay its own...
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