Lloyd's On Hook For Energy Co.'s Storm Damage Costs

Law360, New York (November 2, 2010, 7:36 PM EDT) -- A federal judge has determined that Lloyd's of London underwriters owe Taylor Energy Co. LLC coverage under an energy package policy for the drilling of relief wells as part of the cleanup effort at an offshore oil facility damaged by Hurricane Ivan.

Judge Stanwood R. Duval Jr. of the U.S. District Court for the Eastern District of Louisiana on Friday denied the insurer's motion for summary judgment while granting Taylor's cross motion for summary judgment on the coverage issue, concluding that the plaintiff's motion “has merit...
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.