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Travelers Companies In the News

Filed Under Asbestos Lawsuits, Asbestos News

Travelers Companies are once again in the news as a Supreme Court is thinking about reinstating a settlement of about 500 million dollars against them. The settlement if reinstated would also prevent any other lawsuits from being started against the company. This could be great for the people that have a lawsuit now, but it is not good for those who have yet to file a lawsuit against the company.

Travelers is in legal litigation because it is said that they tried to hide the affects of asbestos on ones health. However, Travelers Company reports that claims should be paid from a trust that was made by Johns Manville Company, which Travelers was associated with. This trust was made during a bankruptcy hearing and it came from many insurers.

The Travelers Company agreed to a settlement with some plaintiffs if the court would also make it clear that they would not face any other lawsuits. The Bankruptcy judge agreed and it was settled. However, a higher court has said that a bankruptcy judge does not have that authority to make that deal.

Asbestos legal advice is the only way to know what is legal and what is not. Anyone that is exposed to asbestos or worked for the John Manville Company should seek advice from an asbestos attorney.