Travelers is suing XL and former Travelers executives Richard DeSimone and Richard Salway for allegedly raiding its entire luxury yacht insurance business, including staff, trade secrets and confidential information.
In a complaint filed on 1 October in the Supreme Court of the State of New York, Travelers said it is seeking "substantial damages" based on injuries and losses caused by the defendants.
The firm is also requesting a disgorgement of XL's related profits and is seeking permanent injunctive relief to...
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