Arkansas Federal Jury Awards Insured $71.7M In Oil Spill Coverage Dispute
(November 5, 2015, 10:09 AM EST) -- EL DORADO, Ark. — An Arkansas federal jury on Nov. 4 awarded an insured $71.7 million in its lawsuit over insurance coverage for business interruption losses arising out of an oil pipeline rupture, finding that the rupture, and not a regulatory shutdown, directly caused the damages (Lion Oil Co. v. National Union Fire Insurance Company of Pittsburgh, PA, et al., No. 13-1071, W.D. Ark.).
(Verdict form available. Document #69-151204-012V.)
Lion Oil Co. owns a refinery that processes approximately 80,000 barrels of crude oil per...