FOR IMMEDIATE RELEASE
NEW YORK, April 17, 2014 — Reporters revisiting the aftermath of the 2010 Deepwater Horizon disaster, which occurred four years ago Sunday, April 20, can consult the
Insurance Information Institute (I.I.I.).
The I.I.I. can provide information on the top 20 major oil tanker spills by size, the types of insurance that apply in these types of situations and what is being done to mitigate future risks.
“Offshore oil rigs are among the most difficult and complex commercial risks to insure, subject to a unique set of environmental conditions because of their location at sea and their constant exposure to catastrophes and loss,” said Dr. Robert Hartwig, president of the I.I.I.
The I.I.I. also noted that the United States has an explicit oil spill liability and insurance mechanism to address oil spills.
By December 2013, BP had paid nearly $13 billion in claims to businesses, individuals and the government.
RESOURCES
THE I.I.I. IS A NONPROFIT, COMMUNICATIONS ORGANIZATION SUPPORTED BY THE INSURANCE INDUSTRY.
Insurance Information Institute, 110 William Street, New York, NY 10038; (212) 346-5500;
www.iii.org