NY Judge Adopts Pro Rata Approach In Corning Asbestos Case

Law360, New York (September 11, 2012, 9:40 PM EDT) -- A New York state judge ruled in an order filed Monday that defense and indemnity costs for asbestos claims against Corning Inc. should be allocated among insurers on a pro rata basis, squarely rejecting a high-profile Delaware court decision that interpreted New York law and favored an all sums approach.

Siding with primary, umbrella and excess insurers that covered Corning from 1962 through 1985, Judge Eileen Bransten held that insurers covering the asbestos injury claims should only be responsible for the portion of the liability corresponding...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.