HOME <HME> SAYS IT IS NOT AFFECTED BY RULING
The Home Insurance Co, a unit of the
Home Group Inc, said it is not affected by a May 29 California
court ruling that says 20 insurance companies must bear the
costs of asbestos-injury claims.
    The company said it had reached a settlement agreement with
five former asbestos manufacturers that it had insured, prior
to the Superior Court ruling that said insurers, and not
asbestos makers, would have to pay the claims from the
thousands of victims of asbestos-related illnesses.
    Home Insurance did not disclose the terms of the
settlement.
   
    Home Insurance said it had provided excess coverage to
Manville Corp <QMAN>, Armstrong World Industries <ACK>,
<Fibreboard Inc>, GAF Corp <GAF> and <Nicolet Inc>.
    Home Insurance said it had been negotiating for the past
two years to reach a settlement with the five former asbestos
manufacturers to establish the amount of coverage that Home
Insurance would provide in the claims.
    The company said the settlement does not impact current or
future earnings of the Home Insurance or its parent, Home
Group, and that it will no longer offer insurance for
asbestos-related incidents.
   
 Reuter
