Insurers Fight Settlement Costs In Oil Cleanup Suit

Law360, New York (December 15, 2011, 1:17 PM EST) -- Great Northern Insurance Co. and Federal Insurance Co. filed suit Wednesday in Texas claiming they owe no coverage to Noble Energy Inc. in its own indemnity tussle with ConocoPhillips Co. stemming from an underlying environmental oil contamination lawsuit.

The insurers say they have no duty to pay ConocoPhillips' demand for indemnity from Noble for its settlement costs in the underlying suit, because that claim stems from a contract between the two defendants and therefore falls under a policy exclusion, among other reasons.

Great Northern and Federal...
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