Paraco Sues Travelers To Cover Shareholder Suit Losses

Law360, New York (July 24, 2012, 8:19 PM EDT) -- Travelers Casualty and Surety Co. of America is facing a lawsuit alleging it wrongfully denied Paraco Gas Corp. claims for coverage under its directors and officers insurance policy for an ongoing shareholder suit over allegedly bogus bonuses, according to a complaint removed to New York federal court Monday.

The New York family-owned propane gas distributor first filed the suit in June in New York state court alleging the insurer wrongfully denied coverage over an exclusionary clause in Paraco's D&O policy that substantially limited its protections. Paraco accused...
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Case Information

Case Title

Paraco Gas Corporation v. Travelers Casualty and Surety Company of America

Case Number



New York Southern

Nature of Suit



Kenneth M. Karas

Date Filed

July 19, 2012

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