Ramaco Resources Secures $30 Million Jury Verdict in Insurance Dispute
News related to:Ramaco Resources, Inc · 2 min read
NEW YORK, Sept. 28, 2026 /CourierPR/ -- Ramaco Resources, Inc., a coal operator and developer based in Lexington, Kentucky, has secured a significant legal victory in a long-standing insurance coverage dispute. On September 25, 2026, a federal jury awarded the company $30.0 million in damages following a trial that lasted several days. The lawsuit, filed by Ramaco Resources, LLC, a subsidiary of the company, against insurance providers Federal Insurance Company and ACE American Insurance Company (subsidiaries of Chubb), stemmed from a partial structural failure of a raw coal storage silo at the Elk Creek preparation plant in November 2018.
Ramaco LLC had initially filed suit in August 2019, seeking a declaratory judgment that the silo collapse was an insurable event and demanding coverage under the applicable insurance policy. The jury's verdict, following a new trial on damages, recognized the company's losses and awarded two specific types of damages: $2,500,000 for aggravation and inconvenience, and $27,500,000 for net economic loss. The Court entered judgment in favor of Ramaco LLC and against Chubb, resolving two of the three elements of damages in the matter.
The remaining element, attorney's fees, will be determined by the Court. Chubb has the option to file post-trial motions within 28 days of the judgment's entry and 30 days to file a notice of appeal. Despite the significant verdict, Ramaco Resources, Inc. remains cautious, as the outcome of the post-trial motions and potential appeals remains uncertain.
Randall Atkins, Chairman and CEO of Ramaco Resources, expressed gratitude to the jury for its careful consideration of the facts and for delivering a just verdict.
Ramaco Resources, Inc. continues to operate in southern West Virginia and southwestern Virginia, with a focus on metallurgical coal mining. The company also holds a coal, rare earth, and other critical minerals exploration stage property in Wyoming, where it operates a carbon research facility. As of September 25, 2026, the company has more than 70 intellectual property patents, pending applications, exclusive licensing agreements, and various trademarks. For more information, interested parties can visit the company's website at www.ramacoresources.com.