AIG Wins State Venue For Asbestos Reinsurance Fight

Law360, New York (March 11, 2013, 8:11 PM EDT) -- Deciding an issue of first impression Monday, a New York federal judge kicked to state court an American International Group Inc. company's suit against TIG Insurance Co. over an asbestos settlement, holding that insurers can pick where to fight as long as one of the reinsurance contracts involved gives them that power.

AIG unit The Insurance Co. of the State of Pennsylvania successfully argued that its multimillion-dollar lawsuit against TIG should stay in New York state court because TIG agreed under service of suit clauses in...
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