Insurers Off Hook For $9.6M In Well-Blowout Coverage Row

By Jess Krochtengel (July 6, 2016, 7:45 PM EDT) -- A Texas appellate court on Wednesday stripped an offshore drilling contractor of a $9.63 million judgment against insurers, ruling the company was not entitled to additional coverage and penalties after two well blowouts off the Louisiana coast.

Drilling Risk Management Inc. had won a jury trial over a partial denial of coverage by Gemini Insurance Co. and Berkley Oil & Gas Specialty Services LLC after it argued the insurers should have paid for casing and lining equipment it used to shore up the well after encountering high pressure zones that had led to two blowouts. DRMI was an additional insured on...

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