Viad Liable for Underlying $157M Montana Asbestos Settlement, NICO Contends

OMAHA, Neb. — National Indemnity Co. has opposed Viad Corp.’s motion to dismiss a lawsuit accusing it of breaching a reinsurance certificate by refusing to pay toward a $157.2 million settlement of asbestos claims, arguing that Viad’s agent admitted that the company “may be responsible.”

In a Nov. 27 brief filed before Judge Brian C. Buescher of the U.S. District Court for the District of Nebraska, NICO argues that after “significant investigation that traced the liability originally owed by General Fire Property & Casualty Co. through multiple corporate reorganizations, NICO discovered Viad’s potential liability based in part on statements Viad’s …