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How BP Found Out The Absurd Oil Spill Insurance Claims. The Steps That Will Help Mine Workers To Escape In The Case Of Emergency

Author: defadmin 20-03-2013, 17:28

As the Insurance Journal reported:
An "absurd" oil spill compensation payouts were launched by BP. For example, in a New Orleans court, BP gave an irrefutable evidences of businesses in industries far from the spill. The British oil and gas group had even to sold a substantial part of its business to pay reparations and fines for the disaster. Still if the court didn’t give a relief it could cost a lot of money for the company. BP plans to estimate the bill that would be $7.8 billion. They say it will be one of the biggest settlements of its kind in USA history. With payments flowing out BP found that the funds it had set aside could be insufficient. It added more up to $8.5 billion by the end of 2012. Such situation made the judge Barbier upheld some another methods.
 

The BEL (Business Economic Losses) policy decisions rewrite the agreement’s express terms, and contradict its purpose, plain text, and underlying principles by authorizing compensation awards for claimants seeking to recover for non-existent "losses",
as the BP suppose.

Though BP is not agreed with such position.

BP did not agree to pay what is already hundreds of millions of dollars, and potentially billions, to claimants with "losses" that do not exist in reality, but result solely from the claims administrator’s rewriting of the agreement,
as the source runs.


As Insurance Journal reported:
The Federal regulators decided to pay more attention to the question of miner’s protection. The Mine Safety and Health Administration are the organizations that will lead the new recommendations for the miner’s safety. It includes improved technology, real-time gas monitors, the systems for communicating with people on the surface and fail-safe tracking devices.

If we have technologies that have gone through rigorous testing by other responsible international bodies, why the necessity for us to go through the entirety of the process again here?,
as Watzman said in his report.

by Vladimir Dmitriev