Lion Wants $80M In Exxon Pipeline Breach Losses Covered

Law360, New York (October 09, 2013, 1:25 PM ET) -- Lion Oil Co. demanded $80 million in indemnification from more than a dozen insurers in a federal lawsuit filed Tuesday for losses from an Exxon Mobil Corp. pipeline rupture that crippled traffic to and from its flagship Arkansas refinery for nearly a year.

The company is arguing that 16 identical all-risk policies it bought from insurers including Certain Underwriters at Lloyd's, XL Insurance America Inc. and ACE American Insurance Co., should cover business interruption losses resulting from Exxon's 10-month shutdown of its North Line pipeline system...
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