NU Online News Service, June 9, 2:35 p.m. EDT
ORLANDO, Fla.--The Deepwater Horizon Drilling Platform explosion and subsequent oil spill in the Gulf of Mexico was not a risk management issue, an insurance executive said.
During a panel discussion at the Public Risk Management Association's annual conference held here, moderator Ron Hays, outgoing president of PRIMA and risk manager of the Calcasieu Parish, La., School Board, noted that risk management has been blamed by many for the British Petroleum oil spill.
But Patricia H. Roberts, president and chief executive officer of Genesis Underwriting Management Company, said she believes risk management was not to blame and that the disaster was a "one-in-10,000-year event." She said many people were involved in the decisions leading up to the spill.
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