Ramaco Resources wins $30 million verdict against Chubb insurers

A federal jury in West Virginia awarded Ramaco Resources, Inc. $30.0 million in damages in its insurance coverage lawsuit against Federal Insurance Company and ACE American Insurance Company, subsidiaries of Chubb Insurance. The verdict, delivered on September 25, 2026, resolves the central dispute over a claim filed following a structural failure at the company's Elk Creek preparation plant.

The legal dispute originated from a partial structural failure of a raw coal storage silo in November 2018. Ramaco Resources, LLC, a subsidiary of Ramaco Resources, Inc., sought a declaratory judgment that the incident was an insurable event after the insurance carriers denied the claim. The subsidiary filed suit in August 2019 in the Charleston Division of the United States District Court for the Southern District of West Virginia.

The jury’s determination included $2.5 million for aggravation and inconvenience and $27.5 million for net economic loss. The court entered judgment in favor of Ramaco LLC against the defendants in accordance with this verdict. However, the jury did not decide the third element of damages: attorney's fees. The court will determine that portion separately.

Chubb may file post-trial motions within 28 days of the judgment entry and has 30 days from the final judgment date to file a notice of appeal. Randall Atkins, Chairman and CEO of Ramaco Resources, stated that the company is grateful to the jury for recognizing the harm suffered by the insurance carriers' wrongful delay in paying a legitimate claim.

Ramaco Resources operates metallurgical coal mining complexes in Central Appalachia and holds exploration-stage properties in Wyoming. The company’s executive offices are located in Lexington, Kentucky. The firm disclosed the verdict in a Current Report on Form 8-K filed on September 28, 2026.