Insurer Asserts Breach Of Contract Against Reinsurer In Federal Court

Mealey's (January 11, 2018, 3:29 PM EST) -- HARTFORD, Conn. — A reinsurer breached its contract by refusing to pay $1.25 million under a series of reinsurance agreements with an insurer for the insurer’s settlement of underlying asbestos claims, the insurer says in a Dec. 22 complaint filed in Connecticut federal court (Travelers Casualty and Surety Co. v. Allstate Insurance Co., No. 17-02144, D. Conn.)....