Brazil Fines Chevron $28 Million for Oil Spill; Backlash Feared

By Leila Coimbra and Sabrina Lorenzi | November 22, 2011

  • November 22, 2011 at 12:28 pm
    rocket88 says:
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    It appears that Brazil has raised the bar for international oil spill clean up costs to over 10,000 a bbl just for fines and penalties. If you have coverage under your excess and you have international exposure, better do a quick review of your maximum possible exposure.As for the big boy oils, you may have run out of limit capacity for a run of the mill leak or break. The excess market needs to deal with the capacity issues for big oils before they all simply self insure.

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