$420M Award To Travelers Survives Reinsurers' Appeal

Law360, New York (January 24, 2012, 3:45 PM EST) -- A New York state appeals court ruled Tuesday that Munich Reinsurance America Inc. and its fellow reinsurers owe $420 million to a Travelers Co. Inc. affiliate to cover a slew of asbestos personal injury claims against Western MacArthur Co. and its predecessor.

In a 4-1 decision, a New York appeals court affirmed that United States Fidelity & Guaranty Co. appropriately won summary judgment in its long-running reinsurance fight with American Re-Insurance Co. — now Munich Reinsurance — and the Excess Casualty Reinsurance Association, a pool of...
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