Travelers Sues Excalibur for $112,855 in Reinsurance for Zurn Asbestos Settlement

HARTFORD, Conn. — Travelers Casualty and Surety Co. has filed another breach of contract action against Excalibur Reinsurance Corp., seeking $112,855 in reinsurance proceeds for an underlying asbestos personal injury settlement with Zurn Industries Inc.

In an Oct. 13 complaint filed in the U.S. District Court for the District of Connecticut, Travelers asserts that Excalibur breached three facultative reinsurance certificates by failing to pay the September reinsurance billing.

According to the complaint, Travelers issued an umbrella insurance policy to Zurn that was in effect from April 1, 1983, to April 1, 1985. This policy was allegedly reinsured under facultative certificates …