asbestos claims News

New York Jury Awards $15M to Family of Worker Who Died From Mesothelioma

The family of a construction worker who died from mesothelioma after exposure to asbestos-containing joint compound has been awarded $15 million by a New York jury. The $15 million verdict came against Kaiser Gypsum on behalf of the family of …

Vermont Court Sides With Ambassador Insurance in Allocation of Asbestos Losses

The Vermont Supreme Court has denied a bid by a manufacturer of asbestos products to bypass Vermont law in determining the allocation of losses for insurance purposes. In so doing, the Vermont court sided with Ambassador Insurance Co., which has …

Honeywell and Asbestos Trust Countersue Over Disputed Claims of $2.3 Billion

Honeywell International Inc. sued a trust for victims of asbestos poisoning, claiming the fund’s managers are wrongly paying people who say they were harmed by the toxic industrial substance. The lawsuit, filed in Pittsburgh, comes after years of acrimony between …

Chemical Firm BASF and Its Law Firm to Pay $72.5M to Close Talcum-Asbestos Claims

BASF SE, the world’s biggest chemical maker, and a law firm agreed to pay a combined $72.5 million to resolve claims they hid evidence that certain talc products contained asbestos in an effort to scuttle thousands of lawsuits. Executives of …

Travelers Q3 Profit Falls on Asbestos, Commercial Liability and Auto Claims

The Travelers Companies reported net income of $396 million for the third quarter compared to $709 million in the prior year quarter. Core income in the current quarter was $378 million compared to $687 million in the third quarter for …

N.Y. Supreme Court Says Coverage Applies in World Trade Center Asbestos Injury Suit

The Supreme Court of the State of New York has ruled that American Home Assurance Company must defend contractors and the Port Authority of New York and New Jersey against asbestos claims from construction workers who became sick after performing …

Berkshire Hathaway Specialty Sues Goodyear Over Asbestos Claims

An insurance unit of Warren Buffett’s conglomerate Berkshire Hathaway Inc. said it has sued Goodyear Tire & Rubber Co to avoid having to cover asbestos-related injury claims that Goodyear said nothing about for seven years. Berkshire Hathaway Specialty Insurance Co. …

Canada to Ban All Products Containing Asbestos by 2018

Canada is moving to ban all products containing asbestos by 2018. The comprehensive ban will include construction materials and brake pads that currently use the cancer-causing agent. Canada closed its last asbestos mines a decade ago, but had obstructed international …

Asbestos Losses Continue to Haunt P/C Insurers: A.M. Best

Net ultimate asbestos losses for the U.S. property/casualty industry have risen once again. They’re now at $100 billion, and that’s $15 billion higher than the previous estimate, according to a new A.M. Best report. A number of factors appear to …

Sports-Related Brain Injuries Are Emerging Risk for US & UK Insurers: S&P Report

Sports-related brain injuries are one of the top emerging insurance claims in the U.S. and the U.K., according to a report published by S&P Global Ratings. While the potential risk of such liability claims is rising rapidly, S&P did not …