STORY FROM: Asbestos
Excess Carrier's Liability $5Mil., Not $15Mil., Pa. Judge Rules
January 1, 2001
PHILADELPHIA - Finding an excess liability insurer's policy clear and unambiguous, a Common Pleas judge in Philadelphia has ruled that a company involved in asbestos litigation is limited to a recovery of $5 million, not $15 million from its insurer. General Refractories Co., et al. v. Fireman's Fund Insurance Co., No. CV-1499 (Pa. Comm. Pls. Ct., Philadelphia Cty.).
In addition, the Court of Common Pleas found the insurance carrier had no obligation to pay any legal fees and loss expenses incurred by plaintiffs General Refractories Co. and Grefco Inc. (collectively GRC).
GRC claimed that the second-line excess liability policy issued ...