Shell Asset Manager Wins Deductible Ruling In E&O Suit

Law360, New York (December 15, 2009, 5:01 PM EST) -- A judge has gutted the contentions of St. Paul Mercury Insurance Co. in a dispute over coverage for PanAgora Asset Management Inc.’s alleged mishandling of Shell Oil Co.’s investment portfolio, finding that a much lower deductible applies to the claims than what the insurer has asserted.

Judge William G. Young issued an opinion on Monday in the U.S. District Court for the District of Massachusetts finding that most of PanAgora’s claim for coverage exceeded an applicable deductible, which was a cornerstone of the insurer’s arguments against...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.