Travelers Sues Excalibur for $451,810 in Reinsurance Proceeds

HARTFORD, Conn. — Travelers Casualty and Surety Co. (NYSE: TRV) has sued Excalibur Reinsurance Co. in Connecticut federal court for $451,810 in proceeds pursuant to three facultative reinsurance contracts covering a policy issued to Zurn Industries Inc.

In its Dec. 3 complaint filed in the U.S. District Court for the District of Connecticut, Travelers seeks indemnity from Excalibur for its settlement of asbestos exposure claims brought against Zurn.

Travelers issued an umbrella policy to Zurn effective April 1, 1983, to April 1, 1985. A number of individuals sued Zurn, alleging they were injured by exposure to asbestos-containing products manufactured …