Mealey's Insurance - Panel Reverses Ruling Against Insured In Suit Over Hurricane Damage To Oil Rig

Mealey's Insurance - Panel Reverses Ruling Against Insured In Suit Over Hurricane Damage To Oil Rig

NEW ORLEANS - The Fifth Circuit U.S. Court of Appeals on June 23 found that umbrella insurers are liable for an energy exploration and development company's removal of wreck and debris expenses caused by Hurricane Ike damage to its oil rig operations, reversing a lower federal court and rendering judgment in favor of the insured (Indemnity Insurance Company of North America, et al. v. W&T Offshore Inc., No. 13-20512, 5th Cir.).

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