Insurers, Inspection Co. End Oil Tank Blast Coverage Row

Law360, New York (November 17, 2011, 9:04 PM EST) -- Liberty Mutual Insurance Co. and Ace American Insurance Co. on Thursday settled their dispute with Owensby & Kritikos Inc., in which the insurers had claimed the petrochemical inspection company should compensate them for covering damages for an explosion at International-Matex Tank Terminals' facility in Louisiana.

U.S. District Judge Jay C. Zainey dismissed the suit, saying the parties could seek summary judgment to enforce their compromise within 60 days if their agreement is not fulfilled within that time frame. Details of the settlement were not disclosed....
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