The Travelers Companies have settled and fully resolved all current and future asbestos-related coverage claims against them relating to ACandS, Inc., once one of the nation’s largest installers of asbestos-laden insulation. ACandS went bankrupt in 2002 after decades of litigation involving the product.

According to a release issued by the company, the settlement agreement calls for Travelers to contribute $365 million to a trust, with an additional $84 million coming from its reinsurers for a total of $449 million. The company reports that the cost of the settlement will come from existing asbestos reserves, which means it won’t affect earnings.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.


  • All news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including and

Already have an account?



Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join now!

  • Unlimited access to - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including, and
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2022 ALM Global, LLC. All Rights Reserved.