Insurers File Action Against BP, Transocean to Clear Up Confusion Around Excess Policy

Some Lloyds of London underwriters and Arch Insurance Company are asking a federal court to require BP and Transocean to settle their dispute over claims submitted to the insurers.

By Phil Gusman | Updated on February 15, 2013

Some Lloyd’s of London underwriters and Arch Insurance Company are asking a federal court to require BP and Transocean to settle their dispute over claims submitted to the insurers.

The insurers say in an interpleader action filed yesterday in the United States District Court for the Eastern District of Louisiana that they are facing multiple claims that threaten to exceed the limits available in an excess layer of coverage they wrote insuring Transocean. BP has claimed that it is an unrestricted additional insured under the excess layer and has continued to submit claims alongside Transocean.

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