INSURER PAYS BLACK & VEATCH $38 MILLION IN DELAY MITIGATION COSTS RESULTING FROM LOST CARGO
publication date: Mar 28, 2004
An insurer was forced to pay Black & Veatch $38 Million for the efforts it took to minimize delay costs after a typhoon destroyed major project equipment. The Court relied on the clear language of the contract and an unfortunate failure on the insurer's part to include a list of items requiring pre-approval in the policy.
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