September 11, 2013
U.S. Navy shipbuilder Huntington Ingalls Industries Inc., a recent spinoff from Northrop Grumman Corp., has settled a long-running insurance coverage suit over damages to its shipyards from Hurricane Katrina for $180 million, according to a Monday securities filing.
July 31, 2013
Northrop Grumman Corp. doesn't have to offset federal tax relief received in its remaining coverage claim in an insurance lawsuit for $387 million over damages to its shipyards caused by Hurricane Katrina, but it still must show a causal link on its time-element losses, a California federal judge ruled Wednesday.
June 26, 2013
Factory Mutual Insurance Co. on Wednesday urged a California federal judge to toss Northrop Grumman Corp.'s remaining coverage claim for $387 million in damages caused by Hurricane Katrina, saying the defense contractor's method for calculating time-element losses for business interruption was "fundamentally flawed."
September 30, 2011
A California federal judge on Wednesday tossed seven of Northrop Grumman Corp.'s eight remaining claims against Factory Mutual Insurance Co. over nearly $1 billion in damage caused by Hurricane Katrina.