Insurers' Exhaustion Defense Fails In Asbestos Coverage Suit

Law360, New York (January 3, 2014, 5:37 PM EST) -- A Maryland federal judge ruled Thursday that defunct insulation purveyor Porter Hayden Co. could tap excess policies issued by a pair of American International Group Inc. insurers for indemnification of underlying asbestos injury suits even if its primary policies had not been completely exhausted.

U.S. District Judge Catherine Blake rejected arguments from National Union Fire Insurance Co. of Pittsburgh Pa. and American Home Assurance Co. that three excess policies they issued in the 1970s above their own primary policies were off-limits to Porter Hayden unless the...
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