Insurers Settle Coverage Dispute Over Chevron Oil Field Claims

Insurers that provided coverage to a California oil well services provider settled a dispute over how legal defense costs should be allocated across policies to pay for an underlying property damage case involving Chevron Corp..

Travelers Cos. unit St. Paul Fire & Marine Insurance Co., along with New York Marine & General Insurance Co. and Kinsale Insurance Co., filed a stipulation of dismissal with prejudice Tuesday in the US District Court for the Eastern District of California.

• The carriers began mediation, which ultimately resulted in a settlement agreement, after the court declined to rule on motions for summary judgment ...