Travelers Sues Excalibur for $86,721 in Asbestos-Related Reinsurance Proceeds

HARTFORD, Conn. — Travelers Casualty and Surety Co. has sued Excalibur Reinsurance Corp. for $86,721 in reinsurance proceeds arising from an underlying settlement of asbestos injury claims asserted against Zurn Industries Inc.

In the Nov. 27 complaint filed in the U.S. District Court for the District of Connecticut, Travelers accuses Excalibur of breaching three facultative certificates that were in effect in the early 1980s.

According to the complaint, Travelers issued Zurn Industries an umbrella policy in effect from April 1, 1983, to April 1, 1985. This policy was allegedly reinsured under facultative certificates issued by the Johnson & Higgins Willis …