STORY FROM: Reinsurance
Travelers, R&Q Settle Dispute over Reinsurance for Asbestos Settlement
February 20, 2012
HARTFORD, Conn. - Travelers Casualty and Surety Co. has settled its dispute with R&Q Reinsurance Co. over reinsurance for the underlying settlement of asbestos claims. Travelers Casualty and Surety Co. v. R&Q Reinsurance Co., No. 10-1946 (D. Conn.).
In a Jan. 31 filing in the U.S. District Court for the District of Connecticut, the parties agreed to dismissal of the case with prejudice and without costs or attorney's fees to any party.
R&Q and several other reinsurers subscribed to a series of reinsurance treaties that comprised the Travelers Casualty's Blanket Excess of Loss Program. The program incepted in 1962 ...