The White House oil spill commission Thursday challenged offshore drillers to boost safety standards, detailing proposals for the creation of an independent, self-regulating industry group and reform of government oversight. Created in the aftermath of the BP drilling accident in …
More than a dozen Farmington, N.M., residents and businesses have put the city on notice that they want reimbursement for damages caused by flooding in August. Some 14 claims have been filed, meeting a 90-day deadline to file tort claim …
Analysts’ dividend forecasts point to steady recovery BP, analysts, may be underestimating legal charges BP has history of low-balling long-term cost of disasters “Gross negligence,” punitive damages not ruled out Analysis shows how $50 billion could be added to cost …
According to initial estimates from Swiss Re’s sigma research team, worldwide economic losses from natural catastrophes and man-made disasters totaled $222 billion in 2010; more than triple the 2009 figure of $63 billion. The cost to the global insurance industry …
Washington claimed progress Monday in easing rifts with Beijing on ways to fight global warming as U.N. climate talks got under way in Mexico with warnings about the rising costs of inaction. The United States and China, the world’s largest …
A new round of U.N. climate talks opens on Monday with almost 200 nations meeting in Mexico in hopes of clinching an agreement on a narrow range of crunch issues dividing rich and emerging economies. The two-week conference at the …
The 2010 Atlantic hurricane season, which ends tomorrow, was one of the busiest on record, according to the National Oceanic and Atmospheric Administration. In contrast, the eastern North Pacific season had the fewest storms on record since the satellite era …
A.M. Best Co. has assigned a financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” to Bermuda-based Oil Casualty Insurance, Ltd (OCIL), both with stable outlooks. OCIL’s ratings “reflect its superior capitalization, balance sheet strength, generally profitable …
The administrator of the $20-billion fund created by BP Plc to compensate Gulf of Mexico oil spill victims announced plans Wednesday for processing final payments. Administrator Kenneth Feinberg said in a news release that claimants have a choice, a lump …
Concentrations of the main greenhouse gases in the atmosphere have reached their highest level since pre-industrial times, the World Meteorological Organization (WMO) said on Wednesday. Concentrations of the gases continued to build up in 2009 — the latest year of …
