Consolidated Edison, Inc.’s subsidiaries continue to face lawsuits in New York State and federal courts, wherein plaintiffs sought compensatory and punitive damages for deaths and injuries allegedly caused by exposure to asbestos at various premises of the Utilities.
These Utilities are:…
Consolidated Edison, Inc., as of Dec. 31, 2008, with respect to a steam main rupture incident, incurred estimated operating costs of US$35 million for property damage, cleanup and other response costs.
As of Dec. 31, 2008, the Company recorded US$21 million…
The Supreme Court, Appellate Division, First Department, New York, affirmed the ruling of the Supreme Court, New York County, which granted summary judgment to defendants in an asbestos lawsuit filed by Judith Nostrom.
The case is styled Judith Nostrom, etc., Plaintiff-Appellant…
A New York appellate court, on Dec. 30, 2008, entered a unanimous decision in favor of CNA Financial Corporation in an insurance coverage litigation involving the former Robert A. Keasbey Company.
The Company is engaged in insurance coverage litigation in New…
The Travelers Companies, Inc.’s subsidiary, Travelers Property Casualty Corp. (TPC), continues to be a party to asbestos- related insurance lawsuits filed in various courts.
In October 2001 and April 2002, two purported class action suits (Wise v. Travelers and Meninger v.…
The Travelers Companies, Inc.’s net asbestos-related reserves were US$2.914 billion at and for the year ended Dec. 31, 2008, compared with US$3.734 billion at and for the year ended Dec. 31, 2007.
The Company’s net asbestos reserves were US$3.596 billion at…
Corning Incorporated recorded a net credit of US$28 million in the three months ended Dec. 31, 2008 (US$340 million in the year ended Dec. 31, 2008) to adjust the asbestos liability for the change in value of certain components of…
The Supreme Court, Appellate Division, First Department, New York, ruled against Consolidated Flooring Corp. in an asbestos lawsuit styled In re Consolidated Flooring Corp., Petitioner v. The Environmental Control Board of the City of New York, et al., Respondents.
Justices Peter…
The Supreme Court, Appellate Division, First Department, New York, on Jan. 22, 2009, issued a ruling in the case styled Illinois National Insurance Company, et al., Plaintiffs- Appellants v. American Alternative Insurance Corporation, Defendant-Respondent.
Justices Peter Tom, Richard T. Andrias, Eugene…