5th Circ. Denies Bid To Go Dutch In Oil Insurance Spat

Law360, New York (December 17, 2008, 12:00 AM EST) -- Cleaving to recent insurance law precedent and a lower court ruling, a Texas appeals court has rejected Nautilus Insurance Co.'s bid to tag a co-insurer with part of a $1.5 million oil company payout.

On Tuesday, the U.S. Court of Appeals for the Fifth Circuit shot down Nautilus’ attempt to recoup a portion of the funds it paid to EOG Resources Inc., holding that the insured, having been indemnified by Nautilus, had no rights against co-insurer Pacific Employers Insurance Co., barring Nautilus from pursuing reimbursement on...
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