Travelers Accused Of Deceiving Toxic Tort Policyholders

Law360, New York (January 9, 2012, 2:27 PM EST) -- Travelers Casualty and Surety Co. was hit Friday with a putative class action in Connecticut claiming the insurer fundamentally mischaracterized the scope of coverage it provided for asbestos and other toxic tort claims to thousands of excess insurance policyholders nationwide.

Named plaintiffs ITT Corp. and Goulds Pumps Inc. claim the insurer has recently asserted that it would only pay up under excess overlayer indemnity policies for toxic tort liabilities arising under a single occurrence that exhausts the underlying per occurrence limit — rather than those stemming...
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