Travelers Tries To Nix Bank's Madoff Coverage Suit

Law360, New York (October 29, 2009, 7:14 PM EDT) -- The Travelers Cos. Inc. and St. Paul Mercury Insurance Co. have moved to dismiss a bank's latest complaint over defense costs related to losses from Bernard L. Madoff's massive Ponzi scheme, contending that exclusions in the policy bar coverage.

On Thursday in the U.S. District Court for the District of Connecticut, the insurers moved to dismiss a second amended complaint filed by Associated Community Bancorp Inc., subsidiary Connecticut Community Bank NA and Connecticut Community division Westport National Bank.

In the amended complaint, filed Oct. 22, Associated...
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