Travelers Sues Excalibur for $108,705 in Reinsurance Proceeds for Underlying Asbestos Settlement

HARTFORD, Conn. — Travelers Casualty Co. has filed another suit against Excalibur Reinsurance Co., seeking $108,705 in reinsurance proceeds for an underlying settlement of asbestos claims brought against Zurn Industries.

In the April 9 complaint filed in the U.S. District Court for the District of Connecticut, Travelers asserts that Excalibur has refused to review, much less pay, any reinsurance billings until it is in active litigation over them.

Travelers Casualty issued an umbrella policy to Zurn, which was in effect from April 1, 1983, to April 1, 1985. This policy was reinsured under three facultative certificates written by Excalibur through …