STORY FROM: Reinsurance & Arbitration
Conn. Federal Judge Stays $6.2 Million Reinsurance Action Pending Settlement
May 18, 2017
HARTFORD, Conn. — A Connecticut federal judge has stayed a $6.2 million reinsurance dispute between Century Indemnity Co. and Travelers Insurance Co. involving a settlement of underlying asbestos claims pending finalization of a settlement.
On May 2, Judge Janet C. Hall of the U.S. District Court for the District of Connecticut granted the parties’ joint motion for a stay. In that motion, the parties said they have agreed to formalize a confidential settlement and that they will execute a final written agreement within the next 45 days.
Travelers issued six excess policies to its Crane Co., a manufacturer and distributor ...
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