The explosion of the Deepwater Horizon oil rig in the Gulf of Mexico on April 20 left 13 dead and 17 injured, leading to a massive oil spill and environmental disaster. The event caused scrutiny of the risk management practices of energy giant British Petroleum and ultimately led to the removal of its chief executive officer.

More recently, it prompted the U.S. Department of Justice to file a lawsuit against BP and other companies involved in the Deepwater Horizon joint venture, including rig owner Transocean and QBE Underwriting Ltd., Lloyd’s Syndicate 1036, one of Transocean’s insurers. BP leased the semi-submersible rig Deepwater Horizon from Transocean and held majority ownership in the drilling project.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

 

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2022 ALM Global, LLC. All Rights Reserved.