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EU Insurers Cannot Dodge €21M Factory Loss, UK Firm Says

Law360, London (December 14, 2018, 7:54 PM GMT) -- A Jersey-based holding company has hit back at an attempt by two European insurers to avoid paying €21.3 million ($24 million) for losses at a Dutch aluminum factory, saying its insurance claim is not excluded under the terms of its policy.

Lassan Holdings Ltd. rejected claims by Italy's Assicurazioni Generali SpA and Spanish insurer Mapfre Global Risks Compania that they are not liable for physical and business losses at the factory. They denied that production problems were caused by worn-out equipment, according to documents filed on Dec. 7 at the High Court in London.

Lassan’s claim centers on damage caused to...

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