Conn. Allocation Ruling May Swell Insurers' Asbestos Burden
Law360, Los Angeles (March 7, 2017, 8:52 PM EST) -- A Connecticut appeals court’s ruling Monday that Vanderbilt Minerals LLC doesn’t have to cover asbestos injury claims for the years during which there was no insurance available for those risks may expand insurers’ asbestos liabilities by forcing them to pick up costs for such periods, attorneys say.
As part of a massive 161-page opinion addressing Vanderbilt’s asbestos coverage dispute with 30 of its insurers, a panel of the Connecticut Appellate Court ruled as a matter of first impression that state law permits an “unavailability of insurance” rule, which establishes that a policyholder is not liable for a prorated share of defense...
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