Travelers Says Reinsurer Owes $8.5M For Asbestos Pact

Law360, New York (December 13, 2010, 6:41 PM EST) -- Travelers Casualty and Surety Co. has hit R&Q Reinsurance Co. with a breach of contract suit seeking $8.5 million as part of its $449 million settlement over asbestos litigation.

In a complaint filed Friday in the U.S. District Court for the District of Connecticut, Travelers claimed that R&Q was bound to that share of the settlement — set aside for asbestos claims against Armstrong Contracting and Supply Co. — through reinsurance agreements struck between predecessors of the companies dating back decades.

Travelers, based in Hartford, Conn.,...
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