Insurers Needn't Cover W&T $50M Hurricane Ike Claims

Law360, Los Angeles (July 31, 2013, 5:31 PM EDT) -- Indemnity Insurance Co. of North America and four other insurers won a decision Wednesday in Texas federal court when a judge ruled that W&T Offshore Inc.’s $50 million in claims wasn’t covered by the excess liability policies it purchased from the insurance companies.

In a 10-page decision, Senior U.S. District Judge Kenneth M. Hoyt ruled that W&T couldn’t use physical damage and operators’ extra expense claims to reduce or exhaust its underlying insurance for damage inflicted on its oil platforms by Hurricane Ike in September 2008....
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