In continuing news:

A federal judge in Louisiana ruled that BP does not have to pay for economic losses other businesses suffered when the federal government shut down deep-water drilling in the wake of BP’s catastrophic 2010 oil spill in the Gulf of Mexico. Judge Carl Barbier’s ruling came in a lawsuit brought by six companies involved in offshore drilling, but plaintiffs’ lawyers said thousands of similar claims worth billions of dollars would be affected by the ruling. The case centered on whether BP was liable under the Oil Pollution Act for the loss of business caused by the moratorium. Barbier sided with BP and said the law relates only to damages caused by the spill, not government action associated with the spill.

Read further coverage via Insurance Journal here.

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