ASBESTOS UPDATE: American Int’l. Posts 5,138 Claims at March 31

American International Group, Inc. recorded 5,138 asbestos-related claims during the three months ended March 31, 2011, compared with 5,208 claims during the three months ended March 31, 2010.

The Company recorded 4,933 asbestos claims for the year ended Dec. 31, 2010,…

ASBESTOS UPDATE: M&F Posts $20MM Pneumo Abex Charges in 1stQ

M & F Worldwide Corp., during the three months ended March 31, 2011, recorded a charge of US$20 million as a result of payment obligations regarding the Pneumo Abex LLC settlement.

The Company’s non-operating contingent claims were generally associated with its…

ASBESTOS UPDATE: American Int’l. Posts $2.199-Bil. Net Liability

American International Group, Inc.’s net asbestos liability for unpaid claim and claim adjustment expense was US$2.199 billion for the three months ended March 31, 2011, compared with US$1.105 billion during the three months ended March 31, 2010.

The Company’s net asbestos…

ASBESTOS UPDATE: 103,678 Claims Pending v. ITT Corp. at March 31

ITT Corporation faced 103,678 pending asbestos claims as of March 31, 2011, compared with 103,575 pending claims as of Dec. 31, 2010, according to the Company’s quarterly report filed with the Securities and Exchange Commission on May 2, 2011.

The Company,…

ASBESTOS UPDATE: 28 Exposure Cases Open v. Minerals Technologies

Minerals Technologies Inc. currently has 305 pending silica cases and 28 pending asbestos cases, according to the Company’s quarterly report filed with the Securities and Exchange Commission on April 29, 2011.

Certain of the Company’s subsidiaries are among numerous defendants in…

ASBESTOS UPDATE: Trial in Cannon Electric Slated for August 2011

ITT Corporation says a trial on several insurers coverage obligations for Goulds Pumps, Inc., is scheduled for August 2011.

On Feb. 13, 2003, the Company commenced an action, Cannon Electric, Inc. v. Affiliated FM Ins. Co., Sup. Ct., Los Angeles County,…

ASBESTOS UPDATE: District Court Dismisses Garner, Palermo Action

The U.S. District Court, Western District of New York, dismissed an asbestos action styled Gail Garner and the Estate of Angelo Palermo, Plaintiffs v. DII Industries, LLC, Asbestos PI, Mark Gleason and Marcellene Malouf, Defendants.

District Judge Charles J. Siragusa entered…

ASBESTOS UPDATE: Standard Motor Has $25.48MM March 31 Liability

Standard Motor Products, Inc.’s accrued asbestos liabilities amounted to US$25,480,000 as of March 31, 2011, compared with US$24,792,000 as of Dec. 31, 2010, according to a Company press release dated May 4, 2011.

Standard Motor Products, Inc. manufactures and distributes engine…

ASBESTOS UPDATE: CBS Corp. Subject to 52,230 Claims at March 31

CBS Corporation had about 52,230 pending asbestos claims as of March 31, 2011, as compared with about 52,220 as of Dec. 31, 2010 and 62,340 as of March 31, 2010, according to the Company’s quarterly report filed with the Securities…

ASBESTOS UPDATE: Corning Estimates $638MM Liability at March 31

Corning Incorporated says the liability for Amended Pittsburgh Corning Corporation Plan and non-PCC asbestos claims was estimated to be US$638 million at March 31, 2011, compared with an estimate of the liability of US$633 million at December 31, 2010.

The Company…

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