4th Circ. Treads Into New Business-Interruption Territory

Law360, New York (March 5, 2014, 8:27 PM EST) -- A divided Fourth Circuit recently freed insurers from paying nearly $11 million for losses tied to a massive explosion at a natural gas production plant in Australia, adding a published ruling to sparse case law on contingent business interruption, a complex type of insurance coverage that is increasingly in demand.

Two of the three Fourth Circuit judges held that National Union Fire Insurance Co. of Pittsburgh, Pa., and Ace American Insurance Co. did not have to cover Millennium Inorganic Chemicals Ltd.'s losses from a months-long shutdown...
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