Travelers, Reinsurer Settle Goodyear Coverage Spat

Law360, New York (January 4, 2010, 1:05 PM EST) -- Travelers Indemnity Co. has settled with a third reinsurer — Phoenix of Greece Insurance Co. SA — in a breach of contract suit seeking reimbursement for payments Travelers made to Goodyear Tire & Rubber Co. for the manufacturer's environmental liabilities.

The insurer filed a motion to dismiss Phoenix from the suit with prejudice in the U.S. District Court for the District of Columbia on Wednesday.

Phoenix — now known as Groupama Phoenix Hellenic Insurance Co. SA — and Travelers have finalized a settlement resolving their dispute,...
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