Travelers Sues Six Reinsurers for $1.65 Million Under Facultative Certificates

HARTFORD, Conn. — Travelers Casualty and Surety Co. has sued six reinsurers in Connecticut federal court, alleging they breached two reinsurance certificates by failing to pay $1.65 million in billings for Travelers’ underlying settlement of environmental claims.

In the Feb. 24 complaint filed in the U.S. District Court for the District of Connecticut, Travelers asserts that it met all of the conditions precedent to coverage under the certificates.

Travelers issued an umbrella policy to United Nuclear Corp., a company engaged in mining and other activities. A number of entities asserted environmental loss or damage claims against United Nuclear, which arose …