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Timken Company v. St. Paul Mercury Insurance Company
Case Number:
5:11-cv-02391
Court:
Nature of Suit:
Judge:
Firms
Companies
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November 08, 2012
Timken, Insurer Settle $5M Coverage Fight Over Ponzi Losses
The Timken Co. has settled its fight with St. Paul Mercury Insurance Co. over the insurer's alleged refusal to provide up to $5 million in crime-loss coverage for $50 million Timken purportedly lost in a Ponzi scheme, according to an order entered in Ohio federal court Thursday.
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November 08, 2011
Timken Wants Travelers Unit To Cover $5M In Ponzi Losses
A Travelers Companies Inc. subsidiary went to Ohio federal court Friday to fight a dispute with steel and bearings maker Timken Co. over the insurer's alleged refusal to pay $5 million in crime-loss coverage for $50 million in losses Timken sustained in an investment Ponzi scheme.