Travelers Seeks $3M From Reinsurers After Deal

Law360, New York (March 30, 2009, 12:00 AM EDT) -- Travelers Indemnity Co. has asked a federal judge to order three European reinsurers to post almost $3 million in security on policies that date back decades, as the insurer pursues a breach of contract lawsuit stemming from an environmental settlement with Goodyear Tire & Rubber Co.

The insurer sued the reinsurers earlier this month and filed an amended complaint along with a prepleading security motion Friday in the U.S. District Court for the District of Connecticut.

The lawsuit names France-based insurers Assurance Generales de France SA...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.