Company: Insurer Owes It Coverage For Settlement Of Shareholder Derivative Action
(November 14, 2017, 1:19 PM EST) -- NEW ORLEANS — An engineering and applied technology company is asking the Fifth Circuit U.S. Court of Appeals to reverse a lower court’s ruling and find that an insurer has a duty to indemnify the engineering company with respect to a settlement of an underlying shareholder derivative action (Twin City Insurance Company v. Oceaneering International Incorporated, et al., No. 17-20303, 5th Cir.).
Duty To Indemnify
Oceaneering International Inc. is an engineering and technology company that primarily provides services and products to the oil and gas industry...