Lloyd’s declares arbitration clause valid in rice mill policy

By Diamond Naga Siu (October 20, 2021, 6:38 p.m. EDT) – Lloyd’s of London told a federal judge in Louisiana that the owner of Louisiana’s largest rice mill was using already “debunked” arguments to invalidate the arbitrage of their underlying. insurance policy after the insurer has not paid for the damage caused by the hurricane.

Farmers Rice Milling Co. LLC and its subsidiary Hardy Rice Dryer LLC sued the insurer and related parties after failing to pay for property damage at their facilities in southwest Louisiana during Hurricanes Laura and Delta, which struck weeks apart in 2020.

Lloyd’s has counterclaimed for a declaratory judgment that the dispute should go through arbitration, …

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