Excess Insurers Seek Coverage Ruling For BP Oil Spill Claims

NEW ORLEANS - Excess insurers filed suit on July 31 in Louisiana federal court seeking a declaration regarding coverage obligations for the 2010 BP oil spill in the Gulf of Mexico (Great American Insurance Company of New York, et al. v. BP Exploration & Production Inc., et al., No. 11-275, E.D. La...

Evidence Supports Insured's Argument That Coverage Is Owed For BP Oil Spill

NEW ORLEANS - A Louisiana federal judge on Aug. 16 denied an insurer's motion for judgment on the pleadings in a coverage dispute arising out of the BP oil spill because there is sufficient evidence showing that the insurer owes coverage for the insured's liability related to the oil spill and...

Transocean To Pay$1.4B To Resolve Claims Over Deepwater Horizon Incident

NEW ORLEANS - Transocean Deepwater Inc. and the federal government on Jan. 3 filed a consent decree in which the company has agreed to pay $1 billion in civil penalties, $400 million in criminal fines and plead guilty to environmental crimes to resolve claims stemming from the explosion of the Deepwater...

DOJ: Judge Accepts Transocean's Guilty Plea; Company To Pay $400M

WASHINGTON, D.C. - The U.S. Department of Justice announced that on Feb. 14 a federal judge in Louisiana accepted Transocean Ltd.'s guilty plea for violating the Clean Water Act (CWA) over its conduct leading to the 2010 explosion of the Deepwater Horizon oil rig and that the company will pay $400...

Oil Spill MDL Judge Approves Transocean's $1B Settlement Agreement

NEW ORLEANS - The federal judge in Louisiana who is overseeing litigation arising from the April 2010 explosion of the Deepwater Horizon oil rig and ensuing oil spill in the Gulf of Mexico on Feb. 19 approved Transocean Deepwater Inc. and its affiliates' agreement to pay $1 billion in civil penalties...

Panel Says BP Is Additional Insured As To Pollution Risks Related To Oil Spill

NEW ORLEANS - BP Exploration & Production Inc. and its related entities are additional insureds under policies issued to Transocean Offshore Deepwater Drilling Inc. and, therefore, are entitled to coverage as additional insureds for claims related to the Deepwater Horizon incident, the Fifth Circuit...

Panel Certifies Questions To Texas High Court Regarding Additional Insured Status

NEW ORLEANS - The Fifth Circuit U.S. Court of Appeals on Aug. 29 withdrew its opinion regarding the additional insured status of BP Exploration & Production Inc. and its related entities under policies issued to Transocean Offshore Deepwater Drilling Inc. and certified questions to the Texas Supreme...