AIG Fights To Avoid Hexion Ship Explosion Coverage

Law360, New York (April 27, 2011, 3:27 PM EDT) -- An American International Group Inc. unit lodged a suit Monday in New York federal court declaring it owes no duty to defend or indemnify Hexion Specialty Chemicals Inc. for claims arising from a 2004 shipping vessel explosion in Brazil.

AIG unit Chartis Specialty Insurance Co. issued a pollution legal liability select insurance policy to Hexion — now known as Momentive Specialty Chemicals Inc. — and a Brazilian subsidiary in 2005, but those two defendants never disclosed the shipping vessel explosion during the application process, according to...
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