Constellation Settles Broker Suit On $130M Coal Risk

Law360, New York (June 1, 2011, 4:32 PM EDT) -- Constellation Energy Group Inc. on Tuesday resolved its lawsuit against Meyers-Reynolds & Associates Inc. in Maryland claiming that the insurance broker failed to lift unfavorable terms from $130 million in political risk coverage on Indonesian coal shipments.

London-based insurance broker Price Forbes & Partners Ltd., another defendant in the suit, also stipulated to the suit's dismissal, which was approved by U.S. District Judge James K. Bredar.

The dispute hinged on alleged negligence on the part of the brokers in securing insurance that was supposed to insulate...
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