A recent court decision may have implications for asbestos insureds.
Delaware (Mesothelioma Cancer News) – A recent decision by a court in Delaware may have an impact on insurance policies that cover asbestos exposure. As reported by RiskandInsurance.com, the case involves a manufacturers dispute and whether New York law provides provisions to cover the subsidiaries of a former parent company that have been faced with numerous asbestos claims. Vice Chancellor Leo Strine reportedly decided in the case that with regards to Houdaille Industries Inc., and insureds Warren Pumps LLC and Viking Pumps LLC, an sum sums approach should be use in making a determination as to what policies would be applicable in asbestos exposure claims.
Strine is quoted in the report as stating in his decision, “I find that there is no disputed issue of material fact as to whether Houdaille assigned New Warren and New Viking the rights to use the Houdaille Policies for Houdaille-era claims…I conclude that each excess policy is independently responsible for all of the liability that results from an occurrence during the term’s policy coverage.”
Mesothelioma Cancer News provides news and information on Delaware asbestos attorneys and law.