Equitas and General Motors Corporation have reached a comprehensive settlement...
Equitas and General Motors Corporation (GM) have reached a comprehensive settlement agreement on asbestos claims.
The agreement settles all claims by GM, including any North American third-party asbestos and pollution-related liabilities, against Lloyd's underwriters reinsured by Equitas. No details of the financial package were given.
Simon Wright, Equitas' head of direct claims, said: "We are pleased to have been able to reach this comprehensive buy-back settlement with GM without the need for litigation."
GM spokesperson Geri Lama said: "GM continues to pursue coverage for asbestos and other third-party liabilities from its primary insurer, Royal Indemnity Insurance and its parent companies, Royal & SunAlliance Insurance Group and Royal & SunAlliance Insurance.
"It is prosecuting its claims for insurance coverage against the Royal insurers in state court in Michigan."
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
