Posted on 30 Dec 2009
One of the largest processors and marketers of refined sugar in the U.S. announced the settlement of a property insurance claim related for $345 million.
Imperial Sugar Co. representatives said the claim related to a major refinery explosion at a Georgia sugar refinery last year, in which 14 workers were killed and dozens were injured.
Insurers had previously provided payments of $300 million under the $350 million policy, which covers the property damage and business interruption costs. The company says a final $45 million payment on the claim is expected in early January.