BP Oil Spill Losses Hit Reinsurers; Premiums Jump

June 3, 2010

  • June 3, 2010 at 9:49 am
    Serge Strong says:
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    Funny how a liberal will always resort to an emotional outburst of factless ridicule when confronted with facts and they have nothing to respond with. So they go emotional on you. “Palin the gift that keeps giving”? what?
    Of course BP, Transocean and Haliburton are not culpable(I hope that’s not to big a word for you). Huh? What are you getting at? Your post does not make since and is an obvious emotional outburst of ridicule.

  • June 3, 2010 at 1:30 am
    Ray Nagin says:
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    Where is Obama in this oil spill? playing basketball? Blaming Bush? or spending money we do not have?

    “Is this the “change we can believe in?”

  • June 3, 2010 at 1:36 am
    Anita says:
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    And the boomerang effect begins. Consumers trying to recover from recession will get a hit on the back of the head at the gas pumps. Where will the $$$$’s for thier insurance come from. How will we break the throw?

  • June 3, 2010 at 1:39 am
    John Smith says:
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    Ok, who got shafted in the end (with insurers who retained too much, or reinsurers who neglected to retrocede enough?

  • June 3, 2010 at 2:04 am
    To Anita says:
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    NBC Nightly News had an expert on the other night that said that all of the oil that has spilled so far only equals one hour of US consumption, and that as of now, prices should not be affected.

  • June 3, 2010 at 2:10 am
    Reagan says:
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    But, most Americans are ignorant slobs and they will be able to have gas prices skyrocket and have the Ocomma Admin blame it on this fiasco. It will really come from Ocomma’s tax increase of 100% to punish us greedy American’s for cunsuming oil products and not riding bikes or walking like poor muslim countries

  • June 3, 2010 at 2:48 am
    Pointin Fingers says:
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    Seems you misspelled the prez’s name. Its not Ocomma its Oblama. He is the only that has not done anything wrong. Just listen to him. Actually, he has not done anything right either.

    Where are the whiners when there really is something to complain about. I guess waiting to focus their whining on evils of oil instead of the do nothing prez that allowed/ caused this catastrophie to continue for over 6 weeks!

  • June 3, 2010 at 3:09 am
    Nerd Of Insurance says:
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    @ Ray
    What do you expect the President to do exactly?
    @ Finger Pointin
    Obama has stated on record that he is taking the blame for the oil spill. How its his fault I do not know. I do not know what caused the spill to happen in the first place, so I can not say for sure who is at fault? Faulty equipment? The manufacutere’s fault. Faulty or shoddy maintanince? Fault of the crew and their supervisors for not maintaining the equipment properly? Outdated equipment? Then its the higher ups fault for being too cheap to update it. I do not know which one is correct, so I am holding my judgement on who I think is to blame.

    As for everyone else. Yes, gas prices will increase because of this. The reason is because their insurance has gone up 50% according to this article. How is BP going to cover this? By increasing their prices on gas. Thats econ 101.

  • June 3, 2010 at 3:26 am
    Pointin Fingers says:
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    The first thing Oblama should have done is mitigate the risk of further contamination by having tankers siphon off the oil. As that was being done, developed a plan to resolve the situation. Then implement and not look for TV time to blame it on big oil. Yes, now they have cut and are capping the pipe pumping it to tankers. This was the plan BP suggested in April. The White House would not accept it. However as the good leaders they are, they did not provide an alternative solution. Now 6 weeks later, it is being implemented. I’ve heard of lame duck presidents, this one is a lame and blame prez.

  • June 3, 2010 at 3:30 am
    Wally says:
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    what should he do??? Hmmmm…after a week or so of the spill, he should’ve made absolutely every resource available to BP: the Navy, Coast Guard, National Guard, Army Corps of Engineers, whatever it takes. He should do more than wander the Lousiana beach examining the sand every few weeks, even if it IS a great photo op. He should send out an APB and appeal to the International community for help (since we’d offer it to them). What has he done other than assign blame (while simultaneously “taking it”, which is amazing unto itself)? Oh, that’s right…he’s decided to hold BP “criminally responsible” (because they MUST’VE done this on purpose) and watch a free Paul McCartney concert last night…

    Do I sound a little angry???

  • June 3, 2010 at 3:32 am
    Joker says:
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    I see the jerks at GS,JPM etc, jumped on the opportunity to pump up the oil futures again today.

    It’d be nice if the goverment got out of the way of the recovery instead of impeding it. Totally inept bunch of a$$hats that can’t do anything right. How about putting an end to the energy market manipulation while you’re at it? Oh that’s right…..b/c they wouldn’t wanna screw over Goldman and take away from their record profits while the average joe gets squeezed at the pump b/c of it.

    What a perfect opportunity to ram some bs climate change regulation down our throats. This is all getting way too coincidental.

    First he sits on his a$$ and does nothing about unemployment. That increases the number of people who now need health insurance but don’t have it. Bam….reason to jam healthcare down our throats.

    Now he sits on his a$$ and blames BP, takes zero control over the situation despite what he says on TV, and look what happens. Oil everywhere, more people out of work and entire fishing grounds destroyed. What does he do? Bans drilling and pushes climate change legislation that will only benefit his buddies and hurt everyone else in the form of higher energy costs.

    Don’t get me wrong, i’m all for developing alternative energy sources but the Clown in chief is only hurting the recovery and tax payers while his buddies get rich. Oh but at least he goes to bed thinking of the spill and wakes up thinking about it. Funny…I seem to recall him saying the same thing about healthcare and job creation. Look how well both of those turned out.

    Rant/

  • June 3, 2010 at 3:35 am
    Ralph says:
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    Great post, as usual. By the way, I’ve been meaning to compliment you on the use of the term “a$$hat.” I’ve since stolen it and used it extensively.

  • June 3, 2010 at 3:51 am
    Joker says:
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    LOL. The guy gets me so angry that I start making up words.

  • June 3, 2010 at 3:51 am
    Taylor says:
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    I’ve likewise stolen the term a$$hat. Great post as well.

  • June 3, 2010 at 4:04 am
    Liberal Agent says:
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    You Republif*cks crack me up. Be good sheeple and quit posting so you can go back to listening to Mr. Oxycontin, opps I mean Limbaugh.

  • June 3, 2010 at 4:08 am
    Wally says:
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    actually, not a fan at all of Mr. Limbaugh. I tend to lean towards the middle more than anything. Go ahead and give your anointed one a pass on this. I’m sure you can find a way to blame Bush on this one, can’t you?

    who’s the sheeple now?

  • June 3, 2010 at 4:18 am
    Jackson says:
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    Yep – blame everything on BP. . . . the Black President!!

    Oil Spill – BP
    Tax Increases – BP
    Heathcard NonReform – BP
    . . .should I continue . . .

  • June 3, 2010 at 4:18 am
    Liberal Agent says:
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    Nobody’s getting a pass on this including the Obama administration, but if a private company, BP, funked up they should be on the hook. And no, this isn’t Bush’s fault, he’s been too busy setting up his facebook account.

  • June 3, 2010 at 4:29 am
    Pontin Fingers says:
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    No Bush is getting his defense team prepared for the Gore lawsuit. Bush is the reason Al and Tipper are separating.

  • June 3, 2010 at 4:32 am
    Realist says:
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    Liberal tree huggers pushed oil exploration off into these DEEP waters, in effect, causing this spill. Allowing senseable drilling would alleviate these risks. BTW, tankers , which we will now have to use to bring in oil (that’s hard to refine) from OBamba’s Muslim friends, have THE highest rates of spills, historically. Over 45,000 wells in the GOM, the last spill was in 1979 by the Mexican Oil Co was last spill. Stopped by an American company w/a relief well.

  • June 3, 2010 at 4:36 am
    Liberal Agent says:
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    Glad to see you get your talking points from Palin, she’s the gift that keeps on giving.

    Of course BP, Transocean and Haliburton are not culpable(I hope that’s not to big a word for you).

  • June 4, 2010 at 7:29 am
    Wally says:
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    wow…It only took 15 posts for someone to point out that the president is African-American!

    Jackson: Give it up! I’m not a racist because I disagree with the way our Fearless Leader has been handling this situation. What I am is ANGRY. From day one, he should’ve made available absolutely every resource.

    Are BP, Transocean, Halliburton and others to blame? Absolutely. However, let’s FIX THE DAMN PROBLEM FIRST and then worry about blame. The buck stops with our Prez, and so far his leadership in this matter has been abysmal at best.

  • June 4, 2010 at 10:01 am
    TxLady says:
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    The issue is not who to blame for the spill, but how to handle it. First and foremost, containment needed to be handled. Weeks on weeks of pondering if what BP proposed was good for the environment wasted time while fouling the environment. You don’t gets weeks in a crisis to ponder what is best. This is reality, Mr. President, not a hypothetical case in law school. Time is of the essence. Second was containment. Weeks again passed while the government again pondered suggestions for sand berms, burn offs, etc. Third is cleanup.
    What was done? The first response of the administration was to send LAWYERS. I am certain that the influx of legal minds was of the utmost help in containing the spill. Perhaps giving them Bounty towels and Dawn detergent might have helped.
    This was handled extremely poorly, the people of the gulf and the industries of the gulf will suffer the ramifications of this inaction for years to come. The Pres was missing in action for weeks, then reluctantly rearranged his busy schedule of fundraisers, dinners and photo ops to spend a little time on a beach, never talking to those whose livelihoods and futures were affected. How about a little sympathy for those who lost family members? Give me a president who shows care and compassion anyday to this cool demeanor, totally disconnected man. Mr. Obama, you failed miserably on this.
    and liberal agent, OOPS is oops, not OPPS. That spells ops.

  • June 7, 2010 at 10:54 am
    Allergic to stupid people! says:
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    First of all, the President is bi-racial! I am sick and tired of everyone referring to him as African-American. Who cares about what someone’s race is anyway?! In this day and age it really shouldn’t matter. My 7 year old even knows better! Furthermore, this is not the President’s fault. If cleaning up the spill was as easy as 1-2-3, then it would have already been done. It’s easy to point the finger, when you have no idea what the heck you’re talking about. Quit acting like you would have an answer if you were the President. The greatest minds are all together on this and the spill is still out there! Everyone on here needs to quit talking about politics and get a life! Get back to work and stop slacking off…slackers!

    • August 5, 2013 at 6:32 am
      Deborah says:
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      Thank you. Only person who has some common sense.



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