Insurers Can't Revive $500M Rig Suit Against Marine Surveyor
Law360 (August 29, 2019, 9:04 PM EDT) -- A Texas federal judge on Thursday rejected a bid by insurance underwriters for Chevron Corp. to rethink her ruling that they can’t hold marine surveyor American Global Maritime Inc. liable after they paid $500 million to cover losses from the failure of an offshore oil rig.
The insurers — more than a dozen insurance companies and several Lloyd's of London syndicates — argued earlier in August that new evidence established U.S. District Judge Lee H. Rosenthal shouldn’t have dismissed their claims against AGM in her July decision. New deposition testimony showed that AGM admitted its actions occurred independently of insurance coverage...
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