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Travelers Joins Insurers Griping About More Aggressive Lawsuits

July 23, 2019, 3:53 PM

Insurers are taking aim at the U.S. love of litigation.

“What we’re reflecting in our numbers we would describe as a more active and more aggressive plaintiffs’ bar,” Travelers Cos. Chief Executive Officer Alan Schnitzer said on a conference call Tuesday. The New York-based company reported second-quarter earnings that missed analysts’ estimates.

Travelers joins insurers including American International Group Inc. and Chubb Ltd. in warning about the trend. AIG has said the rise in class-action lawsuits has been driving losses on directors-and-officers policies, while Chubb CEO Evan Greenberg warned in April that excessive litigation is becoming a “tax on corporate ...