Liberty Mutual Sues To Dodge $50M In Hurricane Ike Claims

Law360, New York (September 17, 2012, 9:32 PM EDT) -- Liberty Mutual Insurance Co. filed suit Monday claiming it didn't have to provide excess coverage to oil and gas company W&T Offshore Inc. for roughly $50 million in damage sustained from Hurricane Ike in 2008 until all the relevant underlying coverage had been exhausted. 

In a complaint filed in Texas federal court, the insurer said relevant coverage to be depleted before its excess policy would be triggered did not include claims for property damage and operators’ extra expense, for which W&T has sought over $150 million...
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.