Goodyear Tire & Rubber Co. has filed a lawsuit against Travelers Casualty and Surety Co. over the insurer's denial of defense and indemnity costs for future asbestos-related claims.
According to the lawsuit moved from state court to the U.S. District Court in Western Pennsylvania, Goodyear seeks a declaratory judgment against Travelers for its alleged breach of contract on various primary and umbrella policies issued from the 1960s to the 1980s by Travelers and predecessor Aetna Casualty and Surety Co.
Goodyear says Travelers has stopped paying for defense and indemnity after Jan. 28, 2013.
The tire manufacturer says it has been named as a defendant in “tens of thousands of lawsuits” and has “incurred hundreds of millions of dollars in defense and indemnity costs” related to alleged exposure to products that contain asbestos, leading to asbestos-related injuries or diseases many years after exposure.
And the company anticipates more claims, including from the time periods in which it had liability policies issued by Travelers.
Goodyear says all deductibles have been met and all per occurrence limits have been exhausted, but Travelers “has declined to honor its coverage obligations” due under the policies.
As a result, Goodyear says, the company “has been forced to incur and will continue to incur additional consequential damages. Including without limitation, attorneys' fees and other expenses in bring this action.”
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