Insurer Owes Transporter $6M In Spill Coverage: 7th Circ.

Law360, New York (November 23, 2011, 7:35 PM EST) -- The Seventh Circuit on Wednesday upheld a lower court's ruling that Great American Insurance Co. of New York owed Egan Marine Corp. and its sister company an additional $5.7 million in coverage for an oil spill in a Chicago canal.

In denying the insurer’s appeal, a three-judge panel ruled that the lower court did not err in finding that GAIC owed not only the $5 million coverage it had already paid for an exploded tank barge but also an additional $5 million for the tug boat...
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