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Exxon Mobil Sues Insurers to Recover Asbestos Suit Money

Exxon Mobil Corp., the world’s second-most valuable company, sued dozens of insurers in New York state court to recover money for asbestos lawsuits.

The oil producer filed the lawsuit yesterday against some underwriters at Lloyd’s of London and other insurers, seeking a declaration of their “rights, duties and obligations” to cover Exxon Mobil’s defense costs and indemnify the company for money it’s obligated to pay as a result of asbestos claims.