Allstate, Insurers Settle Arkema Asbestos Coverage Suit

Law360, New York (October 24, 2011, 12:29 PM EDT) -- Allstate Insurance Co. and two other insurers on Thursday resolved a suit Allstate launched in Pennsylvania to win contributions for asbestos exposure claims leveled against chemicals manufacturer Arkema Inc.

Allstate had sued Century Indemnity Co. and Greater New York Mutual Insurance Co. in October 2006, seeking a declaration that the defendants were obligated to contribute their share for defense costs, settlement payments and judgments arising out of lawsuits alleging exposure to asbestos or asbestos-containing products.

The complaint also requested contribution from GNY for reimbursement of $1.45...
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