Insurance news isn’t working in favor of BP

insurance news Deepwater Horizon Oil Spill 2010

The oil giant has now lost its bid for the coverage of $750 million toward the Transocean spill. The Texas Supreme Court has now made a ruling that brings devastating insurance news to BP, which has learned that the Transocean Ltd. policies for the 2010 disaster in the Gulf of Mexico will not be providing the company with the $750 million that it had been seeking from them to cover the costs of the spill. The decision against BP directly conflicts with one that had been made last year by…

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Hard hit Louisiana deserving of pay out for Horizon oil spill

The state of Louisiana may push to negotiate directly with the Justice Department, the Environmental Protection Agency (EPA) and other responsible parties in the BP, Deepwater Horizon oil spill incident. Opposed to letting the funds go to the federal Oil Spill Liability Trust Fund for dispersal; Louisiana officials may petition to negotiate settlements for them self. The Deepwater Horizon disaster that occurred off the Gulf of Mexico last summer devastated several coastal areas, but by large, Louisiana suffered the most. Millions of barrels worth of crude oil spilt into the…

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