Most insurers accept PPG plan

The majority of the more than three dozen insurers involved, including Travelers with US$240mn exposure and Hartford at US$150mn, have accepted the terms of the PPG US$2.7bn settlement. As each participant has signed a separate agreement the failure of one will not impact on the others and each may, independently, opt for immediate payment of their share to the Trust fund or spread payments over 21 years. They will also all use a 5.5% interest rate to arrive at discounted values.