HOUSTON – A Harris County jury recently sided with Prime Natural Resources, Inc. in the company’s insurance lawsuit against the Lloyd’s at London, according to recent court records.
The jury awarded Prime close to $42 million on May 12 after it determined that Lloyd’s failed to comply with the policy of which the plaintiff tried to make use after Hurricane Rita damaged an oil rig in the Gulf of Mexico in late September 2005.
Approximately $27 million of the total award came from five findings of intentional misconduct committed by the insurer while attorney’s fees amounted to nearly $143,000.
In the 16-page charge of the court, the jury concurred that Lloyd’s received Prime’s claim on Sept. 29, 2005, but failed to request from the complainant all items, statements, and forms sought within a 60-day timeframe.
The jury’s verdict concluded a five-week trial heard in the Harris County 129th District Court.
Harris County 129th District Court Case No. 2015-51137