FirstEnergy Sues 7 Insurers To Cover Demolition Damage

Law360, New York (September 26, 2012, 5:33 PM EDT) -- FirstEnergy Generation Corp. has demanded that Liberty Mutual Insurance Co. and six other insurers cover its losses from a pair of turbines that were damaged during a botched demolition, according to a complaint removed to Ohio federal court Wednesday.

While the insurers concur that the seven virtually identical policies held by FirstEnergy do cover damages the turbines sustained when a 275-foot chimney stack being demolished collapsed in the wrong direction, they have not indemnified FirstEnergy for the loss due to a dispute over how the loss...
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.