Tetra Unit Settles $60M Hurricane Damage Insurance Row

Law360, New York (February 12, 2013, 2:29 PM EST) -- A Tetra Technologies Inc. subsidiary agreed on Monday to drop its $60 million coverage suit against Ironshore Insurance Ltd. in Texas federal court over coverage for oil and gas properties damaged during the 2008 hurricane season after the two companies reached an undisclosed settlement resolving separate litigation in the U.K.

Maritech Resources Inc., which asked for $15 million from its policy with Ironshore, as well as multiple damages equal to three times that amount for Texas Insurance Code violations, asked U.S. District Judge Melinda Harmon to...
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