Drywall Co. Sues Excess Insurer Over Asbestos Cases

Law360, New York (February 9, 2009, 12:00 AM EST) -- Drywall company KCG Inc. has filed a lawsuit against Stonewall Insurance Co., claiming that the insurer is obligated to pay for KCG's defense and indemnification in hundreds of underlying lawsuits that allege physical harm from exposure to asbestos in building materials made by the company's predecessors.

KCG launched the suit Friday in the U.S. District Court for the District of Kansas, seeking a judgment that Stonewall must pay at least 28 percent of the defense and indemnification costs related to the underlying actions.

The suit also...
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