As BP Plc rushed to raise cash to pay for the Gulf of Mexico disaster, a partner in the out-of-control well said the British company was likely guilty of “willful misconduct” and should shoulder the financial burden for the worst …
$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 …
British energy giant BP Plc is planning to raise $50 billion to cover the cost of the Gulf of Mexico oil spill, while the head of a $20 billion fund to compensate victims of the accident vowed Sunday that eligible …
A softening casualty market, strong company earnings, and a quiet catastrophe season resulted in the reinsurance industry enjoying, in 2009, one of its most profitable underwriting years in nearly a decade. Today, reinsurers must continue to push-back on multi-year deals …
Welcome to the first edition of Rupp’s Risk Management & Insurance Commentary This commentary will be published each Monday and is designed to stimulate an exchange of ideas between risk management and insurance professionals with the author acting as the …
The Atlantic hurricane season forecasts are in and they aren’t pretty. All the major forecasters have predicted the season will be much more active than last season. The National Oceanic and Atmospheric Administration (NOAA) expects an “active to extremely active” …
Not Up to Speed “I don’t think speed is in your vocabulary yet. People are just trying to survive.” —Florida CFO Alex Sink telling BP senior VP Bob Fryar his company is not moving quickly enough to pay claims from …
$4.6 Million The amount spent by federal and state agencies in Mississippi to help people recover from this spring’s tornadoes, floods and severe storms. Of that total, more than $3.5 million has been approved by the Federal Emergency Management Agency …
Fear that oil from a huge BP Plc spill will damage Mississippi’s coast is hurting the state’s economy more than oil damage itself, according to a new report. Tourists are staying away from restaurants and hotels and sport fishing is …
The U.S. Senate yesterday again voted down a legislative package on jobless benefits, Medicare payments to doctors and business tax breaks that also contains reauthorization of the nation’s flood insurance program. Despite reducing the overall cost of the package, Democrats …
