Travelers Drops Suit Against Excalibur Seeking Reinsurance for Zurn Asbestos Claims

HARTFORD, Conn. — Travelers Casualty and Surety Co. has voluntarily dismissed its suit against Excalibur Reinsurance Corp. in which it demanded $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 accused Excalibur of breaching three facultative certificates that were in effect in the early 1980s. Travelers filed its notice of voluntary dismissal on Dec. 18.

According to the complaint, Travelers issued Zurn Industries an umbrella policy in effect from April 1, 1983, to April …