Martin Midstream Parent Sues Insurers For D&O Coverage

Law360, Chicago (October 9, 2012, 3:34 PM EDT) -- A parent company of Martin Midstream Partners LP sued Zurich American Insurance Co., Axis Insurance Co. and Arch Insurance Co. in Texas federal court Monday, seeking costs stemming from a shareholder derivative lawsuit the company alleges it is owed under directors and officers and excess policies carrying $10 million limits.

Martin Resource Management Corp., a hydrocarbon product distributor and a parent company of petroleum services partnership Martin Midstream, revealed on Oct. 2 that it had settled the securities lawsuit that SKM Partnership Ltd. launched against it...
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