Insight and Intelligence on the London & International Insurance Markets

4 February 2012

(Re)insurers face $400mn BP D&O claim

9 August 2010

Despite its penchant for self-insurance, UK energy company BP purchased a $400mn Side A directors' and officers' (D&O) policy in the commercial market via broker Marsh Ltd, The Insurance Insider can reveal.

The programme - led with a $25mn primary line from Ace Bermuda International's Irish operation - is placed in eight layers and sees a cross-section of the international D&O community exposed to claims arising from the Deepwater Horizon oil leak earlier this year.

Side A D&O policies provide...

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