Mealey's (August 9, 2019, 1:06 PM EDT) -- NEW YORK — A provision in a 1970s insurance policy for asbestos liability can only be read to allow an insurer of Chapter 11 debtor Rapid-American Corp. to reduce the policy limits to zero by offsetting a previous settlement amount, the insurer argues in an Aug. 7 reply in support of its summary judgment bid in a New York federal bankruptcy court adversary action (Rapid-American Corporation, et al. v. Travelers Casualty and Surety Company, et al., No. 15-01095, S.D. N.Y. Bkcy.)....