A Texas-based oil and gas investment management firm is suing certain underwriters at Lloyd’s of London, alleging the insurers failed to provide coverage for liability arising from environmental lawsuits in Louisiana.
The Lloyd’s underwriters continue to withhold a position on coverage nearly two years after they were first notified of the Louisiana claims, Urban Oil & Gas Group LLC and related entities said in a complaint filed Tuesday in the US District Court for the Eastern District of Texas.
Urban was hit with various claims in connection with surface and mineral lease rights it acquired in Louisiana, alleging the firm ...
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