STORY FROM: Reinsurance & Arbitration

Reinsurer Says Travelers Breached Reinsurance Treaties’ ‘Access to Records’ Clause

HARTFORD, Conn. — Lamorak Insurance Co. says it is not obligated to pay an $80,000 reinsurance billing submitted by Travelers Casualty Co. for the settlement of “Dr. Grant” asbestos claims levied against PPG Industries Inc. because Travelers breached the terms of the reinsurance treaties at issue.

In its March 23 answer to Travelers’ complaint, filed in the U.S. District Court for the District of Connecticut, Lamorak says Travelers breached the treaties’ “access to records” clause by refusing to provide information and documents relating to the reinsurance billing and the underlying settlement.

Travelers issued a number of insurance policies to PPG ...

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