First Financial Settles Faulty Pipeline Suit

Law360, New York (March 2, 2012, 7:10 PM EST) -- First Financial Insurance Co. reached an undisclosed settlement Thursday with three gas production companies, involved in a $2 million suit against a pipeline manufacturer, that the insurer refused to indemnify for faulty equipment used in a natural gas extraction project in Louisiana.

First Financial settled with Gulf Production Company Inc., Gulf Explorer LLC and Kaiser-Francis Gulf Coast after refusing to enter a separate settlement reached three months ago among the gas production companies and pipeline manufacturer PolyFlow Inc., which was insured by First Financial. Judge Ivan...
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