If insurance carriers want dibs on a company’s assets as premium security or collateral, they had better specify that those assets include potential tort-claim settlements, a federal appeals court said Wednesday.
In a case that involved a Florida staffing company, the 2010 BP oil spill in the Gulf of Mexico, SUNZ Insurance Co. and the Internal Revenue Service, the U.S. 11th Circuit Court of Appeals said it all came down to one thing: Whether a $1 million oil-spill co