SCOTX: Insurers Must Pay For Anadarko’s Deepwater Defense

AUSTIN – Anadarko emerged the winner Friday in a coverage clash with its surplus liability insurers when the Texas Supreme Court ruled that the underwriters are contractually obligated to pay Anadarko’s $112.5 million defense costs related to the Deepwater Horizon disaster.

The case was closely watched for its impact on the high-risk, excess-liability insurance market. It drew amicus briefs from underwriters and energy trade groups representing drillers who commonly purchase the coverage.