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Why cant Louisiana be named Additional Insured
Posted on 5/27/10 at 2:18 pm
Posted on 5/27/10 at 2:18 pm
by these Oil Co's Insurance co. Seems to me it should be part of the permit process. In fact all the gulf state could be named additional insured.
I'm sure it would be expensive but less than thin mess?
I'm sure it would be expensive but less than thin mess?
This post was edited on 5/27/10 at 2:19 pm
2
Posted on 5/27/10 at 2:23 pm to MoreOrLes
It wouldn't really matter. Considering BP is self insured as well as most other majors.
Posted on 5/27/10 at 2:27 pm to TigerFred
I believe I heard on 870 that BP is partially self insure and the remainder is with Lloyds of London.
Either way, when a General Contractor hires subs in the construction industry most often the GC's bonding co and workers comp makes the sub carry certain limits and name the GC and the client additional insured. (The cap is the limit of the insurance which is demanded by the At Risk)
Why would that not work here? Too much?
Either way, when a General Contractor hires subs in the construction industry most often the GC's bonding co and workers comp makes the sub carry certain limits and name the GC and the client additional insured. (The cap is the limit of the insurance which is demanded by the At Risk)
Why would that not work here? Too much?
Posted on 5/27/10 at 4:49 pm to MoreOrLes
As an additional insured, La. would be liable after BP goes broke. Rather than that let's just BAIL OUT BP. Were bailing out everybody else, why not BP
Posted on 5/28/10 at 7:34 am to bigwheel
quote:
As an additional insured, La. would be liable after BP goes broke.
That, simply put, is not the case.
There is no legal argument, based upon law or fact, that would allow for the joinder of a passive "Also Insured" party, unless that party assumed liability as per a contract...that just doesn't happen.
Posted on 5/28/10 at 8:13 am to MoreOrLes
Why would Louisiana need to be named as an Additional Insured on BP's policy? Liability insurance protects the Insureds (those coverd by the policy) by paying those amounts that the insureds become legally obligated to pay as damages because of bodily injury or property damage claims made by a third party. The point of being an additional insured is that if you get sued the insurance company has to provide a defense and pay any judgement rendered against you. The state of Louisiana is not getting sued here.
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