,,, or Spread as Easily as the Oil.
As noted earlier, BP has released an internal "report" for public consumption regarding who is at fault for the Oil Well Explosion and Oil Spill Catastrophe in the Gulf of Mexico. It is no surprise that BP points the finger at others as being more culpable than BP. See Ben Casselman and Spencer Swartz, "BP Report Pins Most of Blame on Others" p.A4, col. 1 (Wall Street Journal, Thursday, September 9, 2010); Russell Gold, "Halliburton Faulted Over Cement Job" p. A4, col. 3 (Wall Street Journal, Thursday, September 9, 2010).
This is not to say that no others are or may be found at fault. The explosion and spill in the Gulf of Mexico resulted from a failed Business Model which inherently makes a few people rich and many people destitute. It kills eleven people and harms many others. This was not merely one accident in the Gulf of Mexico among hundreds of Catastrophes across the globe. By its nature, this way of doing the business of fuel production includes destructive effects on the planet we inhabit and on many of the people with whom we share it. The Business Model depends on nonexistent or fraudulent Regulation. See Tennille Tracey, "Offshore-Drilling Agency Overwhelmed, Report Says" p. A4, col. 1 (Wall Street Journal, Thursday, September 9, 2010).
That is the way it is. What we are living through is nothing less than a reexamination of the Business Model which requires harm to others in order for a few to profit. The very idea of blaming others and spreading the blame like oil, is evidence of the death throes of a Business Model that benefits only a few at tremendous price, a Catastrophe for people other than the handful who make a profit from it.
Whether Insurance does, may, or as a matter of public policy, should provide Coverage to this way of doing business even as a new Business Model is emerging to take its failed place, are questions even now beginning to be addressed.
The Insurance Questions including Business Interruption Coverage Issues have largely been experienced before, and they have in general terms been addressed by many Courts, in many decided Cases. Dennis Wall is Co-Author of the leading book on Insurance Coverage for Catastrophe Claims, "CATClaims: Insurance Coverage for Natural and Man-Made Disasters" (West Publishing Company 2008; 2010 Supplement in process). Mr. Wall will be a featured speaker on several panels which will address the BP Oil Spill Catastrophe. On September 15, 2010, he will be a featured speaker on a panel addressing "BP Oil Spill Damages Claims: The Coverage Predicates" at the September 15, 2010 Seminar of the Insurance Law Committee sponsored by the Orange County Bar Association in Orlando, Florida. Mr. Wall will speak on a panel at the American Conference Institute's Bad Faith Litigation Conference in Orlando, Florida on November 30, 2010 on "Dealing With Catastrophic Disasters: How to Properly Investigate and Handle Overwhelming Claims". The American Conference Institute is offering a discount to readers of this Blog: Download ACI Advises Readers of the Insurance Claims and Issues and Insurance Claims and Bad Faith Law Blog are entitled to a discount.
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