Travelers Unit Avoids Insurance Lawsuit Over Wire Fraud Claims

An Alaska construction company dropped its suit against a Travelers Cos. unit over insurance coverage for claims it failed to verify wire instructions that led to funds being transferred to an imposter’s bank account in New Jersey.

Alaska Frontier Constructors Inc. filed a notice of dismissal with prejudice in the US District Court for the District of Alaska on Wednesday.

• The construction company sued Travelers Casualty and Surety Co. of America in November 2024, asserting claims for breach of contract and bad faith.
• The suit alleged Travelers wrongfully denied coverage for Alaska Frontier’s legal bills and a roughly $1.7 million ...