Law360 reported “Celanese Blames Insurer for $14M Absestos Verdict”

Law360 reported Celanese Corporation sues its insurer, Lamorak Insurance Co. and its predecessors, OneBeacon America Insurance Co. and Commercial Union Insurance Co, in Texas Federal court. The complaint states that Celanese’s insurer had previously agreed to pay the underlying suit without reversing their rights, but they are now refusing to pay. Celanese is asking “the court to order Lamorak to pay for the entire sum as a result of its negligent refusal to settle within policy limits and punitive damages.” Read the article here.