Berkshire Unit Sues Insurers for Coverage on Antitrust Judgment

Johns Manville Corp., a Berkshire Hathaway unit, sued a suite of insurers alleging they breached their insurance policies by failing to cover a $22 million judgment against Johns Manville in an underlying antitrust lawsuit.

Liberty Mutual Fire Insurance Co. and Allianz Global Risks US Insurance Co. are among those named as defendants.

Johns Manville says it was sued by a competitor, Thermal Pipe Shields, for antitrust violations and disparaging TPS’s calcium silicate product.

After a trial where evidence of disparagement was presented, a jury found Johns Manville liable and awarded TPS over $22 million in damages.

Johns Manville alleges that ...