Insurance news announcement from China includes forced pollution coverage

china pollution insurance news

Chinese industries that pollute the most heavily will be required to purchase coverage for damage compensation. China has made a government insurance news announcement that will require the most heavily polluting industries to take part in a form of coverage program that will make certain that they are capable of providing compensation for the environmental damage that they cause. The Communist Party in the country has placed a central focus on the pollution in the country. This is the result of the considerable insurance news headlines that have been made…

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Judge decides BP oil spill not covered by Transocean Insurance

A New Orleans judge has ruled that BP Plc’s 2010 Gulf of Mexico oil spill is not covered by the insurance the company holds with Transocean Ltd. Following the oil spill in 2010, BP filed claims with the carriers of Transocean Insurance, seeking a payment of $750 million from their numerous policies with the insurer. Several excess underwriters, with Lloyd’s of London and Ranger Insurance, the primary insurer of Transocean, contested BP’s claims, saying that the contract between BP and the owner of the rig did not include this protection.…

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