New Jersey Guaranty Association Not Responsible for Insolvents' Policies Covering New York Asbestos Claims

NEW YORK - Two New Jersey guaranty associations are not automatically obligated to stand in the shoes of several insolvent insurers for coverage of asbestos claims that arose in states where they do not do business, a state court in New York has ruled. Certain Underwriters At Lloyd's, et al. v. Foster Wheeler Corp., et al., No. 600777/01 (N.Y. Sup. Ct., New York Cty.).

In an opinion issued July 15, Judge Barbara R. Kapnick of the New York County Supreme Court dismissed an action for declaratory judgment filed by several insurers who wrote policies between 1951 and 1981 for asbestos-related …