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 Title

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


Case Number

7:12-cv-05562

Court

New York Southern

Nature of Suit

Insurance

Judge

Kenneth M. Karas

Date Filed

July 19, 2012

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