Cotton Group Supima Sues Insurer For $3M In Legal Costs

By Mike LaSusa (March 3, 2020, 10:37 PM EST) -- A nonprofit association of American pima cotton growers has asked an Arizona court to force Philadelphia Indemnity Insurance Co. to pay some $3 million in legal costs tied to an arbitration dispute over a soured licensing deal with an Indian yarn manufacturer.

The cotton growers group, Supima, said in a suit filed on Friday that it had bought "seamless" directors and officers liability insurance from Philadelphia Indemnity Insurance and "loyally renewed" each year.

The group said it was therefore surprised when the insurer in 2018 declined to renew the policy and later denied coverage for costs incurred in Supima's fight against...

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