IMA Fights $4.6M Insurance Tab Over Ethanol Plant Blowup

Law360, New York (January 10, 2012, 4:55 PM EST) -- Insurance broker IMA of Kansas Inc. argued on Monday it shouldn't be held liable for $4.64 million in damages related to an explosion at a Nebraska ethanol plant, insisting it only brokered the insurance policy for the plant's owner and promised no payout.

IMA filed its motion to dismiss in Nebraska federal court in response to claims brought by The Industrial Company Wyoming Inc., which had contracted IMA's client Pioneer Trail to engineer and construct an ethanol production facility in Wood River, Neb.

TIC argues it...
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.