Loews Insurance Unit Off the Hook for Gas Leak Settlement

Insurance policies issued in the 1970s and 1980s don’t obligate a Loews Corp. unit to contribute to a roughly $1.78 billion settlement involving subsidiaries of utility giant Sempra over the largest gas leak in US history, a federal court ruled.

Sempra Energy and Southern California Gas Co. didn’t show that the settlement was based on injuries that occurred during the periods of the policies issued by Continental Casualty Co.'s corporate predecessor, the US District Court for the Central District of California said in a Wednesday order.

Sempra faced hundreds of lawsuits following the 2015 gas leak at a storage facility ...