Travelers Casualty agreed to settle its claims against two of a series of reinsurer defendants – Factory Mutual and Arkwright Insurance. Travelers had filed suit against Nationwide, National Casualty, Argonaut Insurance, Factory Mutual, and Arkwright Mutual alleging breaches of contracts and seeking a declaratory judgment related to a series of reinsurance contracts covering Travelers’ blanket excess of loss program. Travelers alleged that the reinsurers failed and refused to pay valid claims due under the reinsurance contracts and sought damages arising out of the alleged breaches. The claims against these reinsurers were dismissed with prejudice pursuant to the settlement. Travelers Casualty and Surety Co. v. Nationwide Mut. Ins. Co., No. 11-00063 (S.D. Ohio Jan. 11, 2012).
This post written by John Black.
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