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The FC&S editors analyzed how various lines of business could respond to oil spill claims. Talk of the Deepwater Horizon oil spill has seeped into many areas of life, from serving as fodder for late-night talk show hosts to spurring political debate. Recently a comedian even mused that not only was BP responsible for destroying the Gulf of Mexico, but that it also had a hand in the recent volcanic eruptions that disrupted air travel in Europe (and should thus be blamed for all of the ills in the world).

While BP probably should not take the fall for Eyjafjallaj?kull’s ash spewing or other disasters, it has promised to take responsibility for the oil spill and pay all legitimate claims for damages resulting from the spill and necessary response costs.

BP’s web site lists the types of claims the company will pay: property damage; net loss of profits and earning capacity; subsistence loss and natural resource damage; removal and cleanup costs; cost of increased public services; and net loss of government revenue.

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