Manville settled disputes with six insurers.
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The company said that, under the out-of-court agreements, it will receive a total of about $75 million. The largest settlement was with Marsh & McLennan Cos., which agreed to pay Manville $29.8 million plus interest from next Jan. 1. Marsh & McLennan will also be paying $630 million in asbestos health claims and expenses. Settlements were also reached with AIU Insurance, New York; Granite State Insurance, Manchester, N.H.; Lexington Insurance, Boston; National Union Fire Insurance, Pittsburgh, and Rocky Mountain International Insurance Ltd., Hamilton, Bermuda. Manville sued 27 carriers in March, 1980, seeking a court determination of the basis on which the carriers were obligated to pay for losses suffered by Manville arising from asbestos-related and other claims.
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