Travelers Companies Inc served as the primary insurer for Johns Manfield Corp, one of the largest asbestos mining and manufacturing companies in the country, from 1947 to 1976. Travelers has previously argued that claims should be paid out of a trust fund that they paid $80 million into. That agreement was approved in 1986 by a federal bankruptcy judge.
In 2003 and 2004 claims against Travelers came up again, to which they responded with a $500 million settlement. Along with the settlement came a bar on any future claims. However, this bar was repealed in 2008 by an appeals court. On Thursday, the US Supreme Court reversed that ruling in a 7-2 decision, upholding the bar on future claims.
If you or someone you know has been exposed to asbestos, contact the mesothelioma attorneys of Williams Kherkher at 800-781-3955.