Transocean Insurers Launch New Suit Over BP Spill Claims

Law360, New York (August 1, 2012, 8:49 PM EDT) -- Eight excess insurers of Transocean Ltd. on Tuesday brought a suit in a federal court in Louisiana, asking for guidance on handling Deepwater Horizon oil spill claims from Transocean and BP PLC while their coverage battle with BP plays out before the Fifth Circuit.

The latest suit comes as Transocean and a slew of its insurers are urging the Fifth Circuit to uphold a lower court decision that BP's costs from the oil spill are not covered under Transocean's policies. Liberty Mutual Insurance Co., XL Specialty...
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