Imerys Talc’s Bankruptcy Plan Changes Prompt Insurer Pushback

A group of insurers argued that new language in the bankruptcy plans of Imerys Talc America Inc. and Cyprus Mines Corp., which aim to resolve thousands of asbestos-related claims, would impair their rights under insurance contracts.

The updated language pertaining to the plans’ “insurance neutrality,” added on Jan. 20, is “tantamount” to a finding on insurance coverage disputes that a court has previously refused to issue, the insurers said in a Jan. 29 objection in the US Bankruptcy Court for the District of Delaware.

The insurers include CNA’s Continental Casualty Co., Century Indemnity Co., TIG Insurance Co., Lexington Insurance Co., ...