STORY FROM: Reinsurance & Arbitration
Travelers Sues Reinsurers for $826,670 in Asbestos-Related Billings
May 2, 2018
HARTFORD, Conn. — Travelers Casualty and Surety Co. has accused two reinsurers of breaching a series of treaties by refusing to pay $826,670 in billings arising from Travelers’ settlement of “Dr. Grant” asbestos claims filed against PPG Industries Inc.
In an April 20 amended complaint filed against Nationwide Mutual Insurance Co. and National Casualty Co. in the U.S. District Court for the District of Connecticut, Travelers says the treaties bar the reinsurers from second guessing its settlement decisions.
Travelers issued a number of insurance policies to PPG Industries Inc. Certain of those policies also insured PPG's subsidiary, Pittsburgh Corning Corp. ...
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