Travelers Amends Complaint Against Excalibur; Seeks $216,800 in Reinsurance Proceeds

HARTFORD, Conn. — The Travelers Indemnity Co. (NYSE: TRV) has amended its complaint in which it demands $216,800 in allegedly past due reinsurance proceeds from Excalibur Reinsurance Corp., plus a declaration that Excalibur is obligated to pay Travelers’ future reinsurance billings.

The April 15 amended complaint, filed in the U.S. District Court for the District of Connecticut, accuses Excalibur of ignoring billings submitted under two quota share reinsurance contracts.

According to the suit, Travelers’ predecessor, Gulf Insurance Co., issued errors and omissions policies to a variety of entities. These E&O policies were allegedly reinsured under two “errors and omissions liability …