Source: Business Insurnace

Judy Greenwald August 16, 2019 The Philadelphia oil refinery that filed for bankruptcy a month after a devastating fire is looking for a buyer after failing to obtain insurance proceeds, according to reports. Allianz Global Risk US Insurance Co., a unit of German insurer Allianz SE, is the lead insurer on Philadelphia Energy Solutions Refining & Marketing LLC’s $1.25 billion property insurance coverage, according to a filing with the Delaware bankruptcy court.