Reinsurers Turn To 2nd Circuit In Oil Seizure Row Involving Insurrection Clause

(February 28, 2024, 8:09 AM EST) -- NEW YORK — Reinsurers who were ordered to pay CITGO Petroleum Corp. more than $72.5 million following a jury trial in a suit stemming from the February 2020 seizure of crude oil at a Venezuelan port and involving a marine cargo reinsurance policy have obtained a supersedeas bond and initiated an appeal....

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