Ill.'s Unclear Endorsement For Asbestos-Injury Losses
May 20, 2013, 12:32 PM EDT
Law360, New York (May 20, 2013, 12:32 PM EDT) -- On March 5, 2013, the First District Appellate Court of Illinois ruled in John Crane Inc. v. Admiral Ins. Co., 2013 IL App (1st) 093240-B, that excess and umbrella insurers covering asbestos-related injury claims are jointly and severally liable under an “all sums” allocation method, refusing to adopt the insurers’ argument that a pro rata time-on-the-risk approach applies.
The insured, a manufacturer of asbestos-containing valves and gaskets, had sought coverage for asbestos suits from carriers that sold excess and umbrella coverage spanning two decades. Relying...
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