March 29, 2004

INSURER PAYS BLACK & VEATCH $38 MILLION IN DELAY MITIGATION COSTS RESULTING FROM LOST CARGO

United States Court of Appeals for the Eighth Circuit

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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