New York–Insurers are citing oil companies' windfall profits as a reason to deny their Hurricane Katrina business interruption claims, a policyholder's attorney said today.
The assertion was made by John N. Ellison, an attorney with the law firm Anderson Kill & Olick, at a policyholder advisor conference in New York, sponsored by the law firm.
"I've heard on two claims, 'We are not going to pay you anything because you are making so much money,'" Mr. Ellison said.
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