Attorney: Insurers refusing to pay oil interruption claims

12/14/2005 | PropertyCasualty360

Insurers have refused to pay business interruption claims to oil companies, citing their Hurricane Katrina windfall profits, an attorney with Anderson Kill & Olick has charged. Insurers say policy language specifies the insured parties must suffer an actual financial loss to be eligible for the insurance, but spiking oil prices offset other losses.

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