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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Insurance news spotlights Tom Hanks among scam victims

Insurance news Tom Hanks and Rita Wilson

Jerry B. Goldman, the celebrity’s insurance broker, has been charged with fraud. Tom Hanks is making insurance news, but not because of a blockbuster movie. Instead, it is because he, a former guitarist from The Police, Andy Summers, and hundreds of others have been overcharged by their broker, who has been charged with fraud. The Southern Californian broker pled not guilty to the allegations against him on Wednesday. The broker who has been charged with fraud is named Jerry B. Goldman. He was arrested from his home in Thousand Oaks,…

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New York judge rules on controversial insurance lawsuit concerning 9/11

Earlier in the year, a federal judge in New York reinstated an insurance case concerning the 9/11 terrorist attacks. The lawsuit originated shortly after September 11, 2001, and was backed by victims of the attacks and the families of those that had lost their lives. Several insurance companies also threw their support behind the lawsuit, which quickly raised the price of the suit to $100 billion. Federal Judge George Daniels of Manhattan levied an official ruling on the case last week, finding in favor of the prosecuting party. The target…

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