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Sugar Processor Settles Multimillion-Dollar Property Insurance Claim

Source: TransWorldNews

Posted on 30 Dec 2009

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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.