Insurer Must Pay Full Amount Of Underlying Asbestos Suit Settlement

Mealey's (March 20, 2018, 8:53 AM EDT) -- SAN FRANCISCO — An insurer is obligated to pay its insured more than $2.5 million for the settlement of an underlying wrongful death suit arising out of the use of asbestos in the insured’s product because the policy at issue clearly requires that an all sums method of allocation be applied, a California federal judge said March 15 (Polar-Mohr Maschinenvertriebsgesellschaft Gmbh v. Zurich Am. Ins. Co., No. 17-1804, N.D. Calif., 2018 U.S. Dist. LEXIS 42955)....