2nd Circuit Denies Petition to Rehear Decision Ordering Travelers to Pay $500 Million to Asbestos Claimants

NEW YORK –– The U.S. Court of Appeals for the 2nd Circuit has denied a petition for panel rehearing of a decision in which it determined that Travelers Indemnity Co. and Travelers Surety Co. were obligated to pay more than $500 million to certain asbestos claimants.

In the one-page order issued Jan. 5, the 2nd Circuit denied Travelers’ petition for rehearing without comment.

In July, the 2nd Circuit reversed a lower court’s finding that Travelers was not obligatated to pay the amount, ruling that conditions under the settlement agreements were satisfied.

In its opinion, the 2nd Circuit found that …