Delay Dooms Oil Spill Cleanup Coverage, Judge Rules

Law360, New York (June 18, 2012, 7:22 PM EDT) -- A Texas federal court held Wednesday that Davis Operating Co.'s delay in reporting an oil spill to St. Paul Surplus Lines Insurance Co. barred coverage of cleanup costs, refusing to apply an Oklahoma rule that excuses reporting delays if insurers aren't prejudiced.

Brian Margolies, an insurance attorney at Traub Lieberman Straus & Shrewsberry LLP, said insurers would likely cite the ruling to argue that when policyholders miss reporting deadlines set out in claims-made policies, it is irrelevant whether an insurance company has been harmed by that...
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