STORY FROM: Reinsurance & Arbitration
Travelers Refutes Allstate’s ‘Breach of Access to Records Clause’ Counterclaim
April 12, 2018
BRIDGEPORT, Conn. – Travelers Casualty and Surety Co. has refuted Allstate Insurance Co.’s counterclaim that it breached the “access to records” clause in a series of reinsurance treaties by refusing to provide information concerning billings for an underlying asbestos settlement.
In its March 13 answer filed in the U.S. District Court for the District of Connecticut, Travelers says it did, in fact, provide Allstate with information and even offered to make additional documents available to the reinsurer.
Travelers issued a number of insurance policies to PPG Industries Inc. Certain of those policies also insured PPG's subsidiary, Pittsburgh Corning Corp. (PCC). ...
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