A federal jury awarded $30.0 million in damages to Ramaco Resources LLC, a subsidiary of Ramaco Resources, Inc. (NASDAQ: METC, METCB), in an insurance coverage dispute against Federal Insurance Company and ACE American Insurance Company, both subsidiaries of Chubb Insurance.

The verdict was returned on Sept. 25, 2026, in the Charleston Division of the United States District Court for the Southern District of West Virginia. The jury awarded $27.5 million for net economic loss and $2.5 million for aggravation and inconvenience.

The case stemmed from a partial structural failure of a raw coal storage silo at the company's Elk Creek preparation plant in West Virginia in November 2018. Chubb denied the insurance claim, prompting Ramaco LLC to file suit in August 2019 seeking declaratory judgment that the silo collapse was an insurable event.

The court entered judgment in favor of Ramaco LLC in accordance with the jury's verdict. A third element of damages — attorney's fees — was not decided by the jury and will be determined by the court at a later date.

The defendants have 28 days from the entry of judgment to file post-trial motions and 30 days from the entry of final judgment to file a notice of appeal.

"The Company is grateful to the jury for its careful consideration of the facts and for delivering a just verdict that recognizes the harm we suffered by the insurance carriers' wrongful delay in payment of a legitimate insurance claim that we filed in 2019," said Randall Atkins, Chairman and CEO of Ramaco Resources.