Travelers Battles Reinsurer Over Grant Thornton Claims

Law360, New York (August 20, 2013, 4:42 PM EDT) -- The Travelers Indemnity Co. on Friday sued Excalibur Reinsurance Corp. in Connecticut to recover some of the $3 million it has paid to cover claims that accounting giant Grant Thornton LLP gave improper advice.

Travelers, the successor to Golf Insurance Co., told a Connecticut federal court that Excalibur must help indemnify the claims against Grant Thornton LLP, a firm that carried out audits and provided tax advice to businesses and government agencies.

The insurer asks the federal court to force Excalibur to promptly pay $675,000 for...
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