Company Overview of The Travelers Property Casualty Company of America
The Travelers Property Casualty Company of America offers property and casualty insurance products and services. It was formerly known as The Travelers Indemnity Company of Illinois, Inc. and changed its name to The Travelers Property Casualty Company of America in December 2003. The company was incorporated in 1971 and is based in Hartford, Connecticut. The Travelers Property Casualty Company of America operates as a subsidiary of The Phoenix Insurance Company.
One Tower Square
Hartford, CT 06183
Founded in 1971
Key Executives for The Travelers Property Casualty Company of America
Compensation as of Fiscal Year 2014.
The Travelers Property Casualty Company of America Key Developments
Warehouse Wines & Spirits Inc. Sues Travelers Property Casualty Co. of America for Failure to Pay for $1.1 Million in Lost Alcohol
Sep 2 13
Warehouse Wines & Spirits Inc. filed a lawsuit alleging Travelers Property Casualty Co. of America failed to pay for more than $1.1 million in losses in January 2012. Warehouse Wines and Spirits Inc. alleges it discovered a loss of wine and spirits in January 2012 at its warehouse in Long Island, N.Y., and promptly submitted a claim for $1,155,480 to Travelers. The lawsuit claims Travelers refused to pay for the loss, despite issuing a property insurance policy to Warehouse Wines that included wine and spirits as covered property. As a result, Warehouse Wines incurred an additional $22,308 in costs. Travelers argues that an exclusion for a loss resulting from 'unexplained disappearance' bars coverage because Warehouse Wines claims it has no knowledge of what happened to the lost wine and spirits and only discovered the loss after taking an inventory.
U.S. District Court for the District of Colorado Denies Motion for Summary Judgment Brought by Oakland Construction against its Liability Insurers
Jun 24 13
The U.S. District Court for the District of Colorado denied a motion for summary judgment on state law claims brought by a general contractor insured against its liability insurers following settlement of underlying claims brought against the insured in connection with its construction of a residential and commercial project. The liability insured was a first-party claimant entitled to pursue a claim for dilatory claims handling under a state statute. Oakland Construction Co., the general contractor for the RiverGate Loft Condominium project, was sued in connection with the project. Okland tendered defense and indemnity of the action to its insurers, Phoenix Insurance Co., Travelers Indemnity Co. of America, St. Paul Fire and Marine Insurance Co., St. Paul Surplus Lines Insurance Co. and Travelers Property Casualty Co of America (collectively, the insurers). The insurers defended Okland and the action was settled for $11.5 million. The insurers paid $4 million of this amount, and Okland paid the remaining $7.5 million. Okland then sued the insurers for breach of contract and bad faith based on the insurers' alleged unfair claims settlement practices. The case came before the court on the insurers' motion for summary judgment on Okland's statutory claims. The district court rejected the insurers' contention that the statute on which Okland based its claim did not apply under the circumstances of the case.
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