Travelers, Excalibur Settle Reinsurance Case Involving Zurn Asbestos Claims

HARTFORD, Conn. — Travelers Casualty and Surety Co. (NYSE: TRV) has settled its suit against Excalibur Reinsurance Co. in which it sought $451,810 in reinsurance proceeds under three facultative contracts covering a policy issued to Zurn Industries Inc.

In a Jan. 31 filing, Travelers notified the U.S. District Court for the District of Connecticut that it was dismissing the action.

Travelers issued an umbrella policy to Zurn effective April 1, 1983, to April 1, 1985. A number of individuals sued Zurn, alleging they were injured by exposure to asbestos-containing products manufactured and/or sold by the company. Zurn sought coverage under …