N.J. Court Affirms Denial of Coverage to Asbestos Defendant

TRENTON, N.J. -- A New Jersey appellate court has affirmed the denial of coverage to W.R. Grace & Co., finding that the asbestos defendant could not rely on estimations of the value of claims when submitting proof of claims to a liquidated insurer. Commissioner of Insurance of the State of New Jersey v. Integrity Insurance Co./W.R. Grace & Co., No. A-2505-10T4 (N.J. Super. Ct., App. Div.).

On Jan. 11, the New Jersey Superior Court, Appellate Division, found that the liquidator of Integrity Insurance Co. was not obligated to "earmark" funds to cover contingent and future asbestos-related claims against W.R. Grace.