Halliburton, Equitas Reach Asbestos Agreement
Reinsurer Equitas, the Lloyd’s of London affiliate set up to deal handle asbestos cases, and Texas-based Halliburton Co. are reported to have reached an agreement to settle asbestos insurance claims.
According to Reuters news reports, under the agreement the oil services firm will receive $575 million in two payments over an 18-month period.
The agreement reportedly resolves all Halliburton asbestos claims against Lloyd’s. Equitas, which was established in 1996, said the agreement caps the largest direct liability it faced.
Popular Today
- Insurer Chubb Readies $350M Payout Tied to Baltimore Bridge Collapse
- Truist Finishes Insurance Subsidiary Sale; Broker Rebrands as TIH, Names All-Star Board
- Cracks in O’Hare Columns Aren’t Insured Property Damage, Just Bad Product – Court
- Berkshire’s ‘Most Important’ Biz Drives Q1 Results; GEICO Still Behind on Tech