November 08, 2012
The Timken Co. has settled its fight with St. Paul Mercury Insurance Co. over the insurer's alleged refusal to provide up to $5 million in crime-loss coverage for $50 million Timken purportedly lost in a Ponzi scheme, according to an order entered in Ohio federal court Thursday.
November 08, 2011
A Travelers Companies Inc. subsidiary went to Ohio federal court Friday to fight a dispute with steel and bearings maker Timken Co. over the insurer's alleged refusal to pay $5 million in crime-loss coverage for $50 million in losses Timken sustained in an investment Ponzi scheme.