BP Can't Use Transocean Insurance For Disaster: Judge

Law360, New York (November 15, 2011, 6:25 PM EST) -- The Louisiana federal judge handling the multidistrict litigation over the Deepwater Horizon oil spill ruled Tuesday that Transocean Ltd.’s insurers have no duty to cover BP PLC for costs related to the disaster.

Transocean’s policies with Ranger Insurance Ltd. and Lloyd’s of London underwriters, among others, provided for additional insureds, but BP’s drilling contract with Transocean mandated that BP was responsible for pollution liabilities, U.S. District Judge Carl Barbier ruled.

BP filed claims with the insurers in the months following the April 2010 spill, seeking access...
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