Factory Mutual Must Cover Oil Leak-Related Plant Shutdown

Law360, New York (August 21, 2012, 9:21 PM EDT) -- A Missouri federal judge told Factory Mutual Insurance Co. Tuesday to cover the massive business losses that roofing materials manufacturer Tamko Building Products Inc. suffered during a month-long plant shutdown stemming from an off-site oil pipeline leak.

The coverage dispute arose from the temporary closure of Tamko's Frederick, Md., facility after an oil company that supplied an asphalt product to Tamko's supplier was forced to shut down its damaged "monobuoy" oil unloading dock and pipeline system, the opinion said.

Tamko claims the 2008 incident slammed 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.