Litigation

Travelers Cos. must pay more than $500 million to victims of asbestos-related diseases under settlement proposal first approved by a judge in 2004, a federal appeals court in New York ruled.

Insurer AIG wants more than $10 billion from Bank of America, saying the bank cheated it by selling it overvalued mortgage-backed securities.

Two ongoing industry legal battles saw recent developments, as an appeals court vacated the convictions of former General Reinsurance Corp. and American International Group executives; and Liberty Mutual Group says it likely will appeal the preliminary approval given to a $450 million settlement between AIG and other companies stemming from...

Liberty Mutual says it likely will appeal the preliminary approval given to a $450 million settlement American International Group Inc. reached with companies that alleged AIG underreported premiums to a workers’ compensation program.

The convictions of four former executives at General Reinsurance Corp. and another at American International Group Inc. have been thrown out by a federal appeals court.

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