Insurers May Have To Split Daimler Asbestos, Pollution Costs

By Jeff Sistrunk (March 25, 2021, 10:47 PM EDT) -- Oregon's high court on Thursday revived a lawsuit by a pair of Allianz SE insurers seeking to force other insurance companies to help them cover a Daimler AG subsidiary's costs in pollution cleanup and asbestos injury claims.

The decision by the unanimous Oregon Supreme Court breathes new life into Allianz Global Risks US Insurance Co. and Allianz Underwriters Insurance Co.'s effort to pass the buck for part of policyholder Daimler Trucks North America LLC's hefty legal bills onto five insurers that issued policies to the truck manufacturer's predecessor from the late 1970s through the early 1980s.

These "historic" insurance carriers for...

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