$1.6 Billion
London-based BP told Reuters the oil spill in the Gulf of Mexico has already cost it $1.6 billion and that it would begin operating an additional mechanism to capture more crude from the leaking well in the coming days. As of press time, the company said 51,000 damages claims had been submitted and that more than 26,500 payments, worth more than $62 million, have been made. The $1.6 billion includes only $60 million of $360 million the oil major has committed to building barrier islands off the Louisiana coast.
10%
California workers’ compensation total direct written premium fell nearly 10 percent last year, dropping to a nine-year low of $6.9 billion, according to market share data from the National Association of Insurance Commissioners (NAIC) released by the California Department of Insurance.
$70 Million
The first major Colorado hail and wind storm of 2010 carries an estimated insurance price tag of $70 million, according to the Rocky Mountain Insurance Information Association. About 13,600 auto and homeowners insurance claims have been filed since baseball-sized hail and high winds caused damage to vehicles and homes around Brighton, Commerce City and other communities in the northeast metro area, as well as in Pueblo.
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