Travelers Seeks Prejudgment Remedy in $1.7 Million Reinsurance Action Against R&Q

HARTFORD, Conn. — Travelers Casualty & Surety Co. has asked a Connecticut federal court to grant its application for prejudgment remedy in a $1.7 reinsurance action against R&Q Reinsurance Co., arguing that its success on the merits is “not only probable, but overwhelmingly likely.”

In an Aug. 14 motion filed in the U.S. District Court for the District of Connecticut, Travelers contends that a prejudgment remedy is warranted because it has sufficiently established that payment is due and owing under the parties’ facultative reinsurance certificates and that R&Q’s financial condition is “rapidly deteriorating.”

Travelers issued two excess insurance policies …