Jan 25, 2012
Reinsurers Obliged to Pay Share of Asbestos Settlement, Panel Says
A group of reinsurance companies is responsible for $420 million of a nearly $1 billion settlement between United States Fidelity & Guaranty Co. and one of its insureds over asbestos claims whether or not Fidelity & Guaranty initially denied those claims in bad faith, a New York appellate panel has ruled.