U.S. Supreme Court Accepts Petition in Travelers Cos. Dispute

WASHINGTON, D.C. -- The U.S. Supreme Court on Dec. 12 granted petitions for writ of certiorari and will hear arguments relating to whether a $500 million settlement Travelers Cos. Inc. made with asbestos claimants should be reinstated. Travelers Indemnity Co., et al., v. Bailey, Pearlie, et al., No. 08-295; Common Law Settlement Counsel v. Bailey, Pearlie, et al., No. 08-307 (U.S. Sup. Ct.).

According to an order list issued by the nation's highest court, one hour has been allotted for oral argument.

The insurance company reached the settlement in 2004, under which it agreed to settle three groups of …