STORY FROM: Reinsurance & Arbitration
Travelers, Lamorak Settle $80,000 Reinsurance Action in Conn. Federal Court
May 21, 2018
HARTFORD, Conn. — Travelers Casualty Co. has settled a lawsuit in which it sought payment of an $80,000 reinsurance billing from Lamorak Insurance Co. for the resolution of “Dr. Grant” asbestos claims filed against PPG Industries Inc.
According to a May 15 stipulation filed in the U.S. District Court for the District of Connecticut, Travelers and Lamorak agreed to dismissal of Travelers’ claims without prejudice and without costs to either party.
Travelers issued a number of insurance policies to PPG Industries Inc. Certain of those policies also insured PPG's subsidiary, Pittsburgh Corning Corp. (PCC). In addition, during certain years, Travelers ...
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