While not often in the limelight, standard business practice relies on service contracts and, in turn, risk transfer through those contracts. Critical issues can arise regarding whether.
Primary and excess insurance carriers and their counsel need to pay close attention to a new Texas Supreme Court case Exxon Mobil vs. National Union Fire Insurance Company of Pittsburgh.
In Texas, MSAs related to the oil and gas industry contain provisions related to mandatory minimum insurance coverage and indemnity obligations. In ExxonMobil Corporation vs. National Union Fire Insurance Company, savage procured a commercial general liability and umbrella policy.
In Texas, many master service agreements (MSAs) related to the oil and gas industry typically contain provisions related to mandatory minimum insurance coverage and indemnity.