Law360, New York (August 26, 2011, 7:04 PM ET) -- The Texas Supreme Court ruled Friday that a Lloyd’s of London underwriter did not owe The Houston Exploration Co. coverage for certain offshore oil rig repairs because the provision governing the charges was stricken before the parties signed the policy.
In a 6-3 decision, the state high court affirmed a lower court’s holding that the parties’ decision to strike through a policy provision covering “standby charges” reflected their intention that Wellington Underwriting Agencies Ltd. would not have to cover these expenses.
“The parties did not try...
Insurer Not Liable For Stricken Coverage: Texas Court
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