Following a six-day trial, a Texas jury found that Great American Insurance Company breached its policy with a hydraulic fracturing company and engaged in unfair settlement practices when it refused to pay for loss the company sustained in a well accident. The decision highlights the need to vigorously pursue coverage using all information available and the benefits of leveraging state statutory protections governing unfair claims settlement practices to ensure that insurers handle claims in a prompt, fair, and reasonable manner.
Continue Reading Texas Jury Awards Millions to Fracking Company For Insurer’s Bad Faith Denial of Claim For Broken Well Equipment
Oil and Gas
Fifth Circuit Twice-Addresses Impact of Master Services Agreement on Subrogation and Arbitrability Issues
On Wednesday, the Fifth Circuit found that Lloyd’s syndicates may not subrogate against an additional insured and may not force that additional insured to arbitration. Lloyd’s Syndicate 457 v. FloaTEC, LLC, No. 17-20550 (5th Cir. Apr. 17, 2019).
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Continue Reading Fifth Circuit Twice-Addresses Impact of Master Services Agreement on Subrogation and Arbitrability Issues