On March 8, 2012, we reported on a settlement of Travelers’s claims against certain of its “excess of loss” reinsurers in a dispute over the extent to which Travelers could claim that its settlement of thousands of underlying asbestos insurance claims constituted one “loss” or occurrence for purposes of meeting the dollar amount threshold for entitlement to reinsurance coverage. Nationwide Mutual, a reinsurer still a defendant in the action, has sought discovery from Travelers, including Travelers’s files related to its settlement of the underlying insurance claims. Travelers has disputed Nationwide’s entitlement to these materials, contending that the “follow the fortunes” doctrine renders irrelevant the details of Travelers adjudication of the underlying claims. The court recently denied (on non-substantive grounds) Nationwide’s motion to compel the discovery, without prejudice for Nationwide to re-file a more detailed motion. Travelers Casualty & Surety Co. v. Nationwide Mutual Insurance Co., Case No. 2:11-cv-00063 (USDC S.D. Ohio May 10, 2012).
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Reinsurer seeks underlying claim files in dispute over scope of “loss,” notwithstanding “follow the fortunes” doctrine
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Cisco Systems, Inc