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Diane Publishing Books
Deepwater Horizon Oil Spill Disaster: Risk, Recovery, and Insurance Implications
Rawle O. King
The April 2010 Deepwater Horizon oil spill disaster in the Gulf of Mexico was the largest spill to have occurred in U.S. waters. The scale of clean-up costs and third-party damages has prompted congressional review of clean-up and damage compensation mechanisms, as well as of ways to facilitate future oil spill prevention, response, and recovery. A key element is the role of insurance in ensuring that costs of spills can be financed. Contents of this report: (1) Intro.; (2) The Deepwater Horizon Oil Spill Incident; (3) The Offshore Energy Exploration and Production Business: Risk Management and the Demand for Insurance; (4) Offshore Energy Insurance Market; (5) Compensating Oil Pollution Victims; (6) Policy Issues. Illus.
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