Defendant Challenges Arbitration Award Freeing Insurance Company of Future Asbestos Liabilities

PHILADELPHIA - Bankrupt insulation contractor ACandS, Inc., has moved to vacate an arbitration award that, if upheld, would substantially limit an insurer's coverage of pending and future asbestos claims against ACandS. ACandS, Inc. v. Travelers Casualty & Surety Co. No. n/a (E.D. Pa.).

The motion, which was filed Oct. 30 in the United States District Court for the Eastern District of Pennsylvania, asks the Court to declare the confidential July 31 arbitration award, entered in favor of Travelers Casualty & Surety Co., invalid. On Aug. 1, Travelers announced that an arbitration panel ruled that any asbestos claims paid by ACandS …