2023 ABKB 627 Paramount Resources Ltd v Chubb Insurance Company of Canada - 8 November 2023
Country
Year
2023
Summary
Introduction
[1] The plaintiff Paramount, an oil and gas company, claims against the defendants, who are Paramount’s pollution liability or excess insurers, for coverage under the insurance policies arising from a release of pollutants from a LVP (low vapour pressure) pipeline.
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XI Decision
[336] Paramount is entitled to judgment against each insurer for the coverage afforded under its respective policy, subject to applicable pollution incident limits, aggregate limits, and any applicable deductibles or self-insured retentions, to the collective limit of $11,000,000.
[337] The parties may speak to prejudgment interest, costs, or other necessary issues if unable to agree.
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