GAF settled a legal battle with five insurance firms.
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The dispute arose over coverage for claims against the company for asbestos-related health problems. GAF had sued the insurers in California state court in 1979, claiming they were required to provide coverage in all present and future asbestos cases filed against the company. The company did not disclose the amount of the settlement, reached with Insurance Co. of North America, a unit of Cigna Corp.; Aetna Life & Casualty; underwriters for Lloyd’s of London; First State Insurance, and North River Insurance. The companies provide the bulk of GAF’s asbestos-related coverage.
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