Insurers Can't Sink Shipbuilder's $10M Tugboat Damage Claim

Law360, New York (May 16, 2012, 6:22 PM EDT) -- An Alabama federal judge on Tuesday ruled against a group of insurance carriers, including Northern Assurance Co. of America, saying they'd have to pick up the tab on up to $10 million worth of damages to a tugboat owned by a Mobile, Ala., shipbuilder.

Northern Assurance, alongside a group of underwriters including AGCS Marine Insurance Co. and Travelers Insurance Co., sued shipbuilder C&G Boat Works Inc. in June 2011 seeking a declaration that they weren't obligated to provide coverage for damages to the engines of Hull...
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