A decision by a Rhode Island jury finding three paint pigment manufacturers liable for the cleanup of lead paint in the state will probably not translate into another asbestos-like claims situation for insurers, industry representatives say–but that doesn't mean the industry plans to sit idly by waiting to find out.

Already, in fact, Lloyd's of London has filed a suit seeking to limit coverage for paint pigment makers hit with an adverse jury verdict in a recent case in Rhode Island.

The prospect of having to pay billions of dollars in remediation costs became very real for some paint companies when a Superior Court jury in Providence, R.I., found Sherwin-Williams Co., NL Industries and Millennium Holdings liable for creating a public health crisis by manufacturing, distributing and promoting lead-based paint products. "This is great news for the children, the taxpayers, and the short- and long-term public health of the state of Rhode Island," declared the state's attorney general, Patrick C. Lynch, in a statement.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.