Catastrophic oil spills and the problem of insurance

Vanderbilt Law Review

Volumn 64, Issue 6, 2011, Pages 1769-1791

  Abraham, Kenneth S ^a  

^a UNIVERSITY OF VIRGINIA SCHOOL OF LAW   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 84855508925     PISSN: 00422533     EISSN: None     Source Type: Journal    
DOI: None     Document Type: Article

References (41)

1. Information about BP's compensation fund, the Gulf Coast Claims Facility, can be found at the facility's website, http://www.gulfcoastclaimsfacility.com/ .
2. KENNETH S. ABRAHAM, THE LIABILITY CENTURY: INSURANCE AND TORT LAW FROM THE PROGRESSIVE ERA TO 9/11, at 149-52 (2008
3. Fleming James, Jr., Limitations on Liability for Economic Loss Caused by Negligence: A Pragmatic Appraisal, 25 VAND. L. REV. 43, 53 (1972
4. Ranger Ins. Ltd. v. BP PLC, No. 10-2009 (S.D. Tex. June 8, 2010)
5. Certain Underwriters at Lloyd's London v. BP PLC, No.10-1823 (S.D. Tex. May 21, 2010
6. KENNETH S. ABRAHAM, INSURANCE LAW & REGULATION 202 (5th ed. 2010)
7. § I (A)(2)(c)(6)(e)
8. § I(A)(3)
9. Graham v. Pub. Emps. Mut. Ins. Co., 656 P.2d 1077, 1081 (Wash. 1983)
10. § I(B)(2)
11. AM. INST. FOR CHARTERED PROP. CAS. UNDERWRITERS, THE CPCU HANDBOOK OF INSURANCE POLICIES 101 (8th ed. 2008)
12. Duane Reade, Inc. v. St. Paul Fire & Marine Ins. Co., 279 F. Supp. 2d 235, 237 (S.D.N.Y. 2003)
13. 411 F.3d 384 (2d Cir. 2005)
14. Archer-Daniels-Midland Co. v. Phoenix Assurance Co. of N.Y., 936 F. Supp. 534, 540 (S.D. Ill. 1996)
15. Oil Pollution Act of 1990, 33 U.S.C. § 2716 (a), (e) (2006)
16. Aetna Cas. & Sur. Co. v. Gen. Time Corp., 704 F.2d 80, 83-84 (2d Cir. 1983)
17. Dreis & Krump Mfg. Co. v. Phoenix Ins. Co., 548 F.2d 681, 687 (7th Cir. 1977)
18. Liberty Mut. Ins. Co. v. Wheelwright Trucking Co., 851 So. 2d 466, 491 (Ala. 2002)
19. Fitness Equip. v. Pa. Gen. Ins. Co., 493 So. 2d 1337, 1343 (Ala. 1986)
20. Thomas J. Lipton, Inc. v. Liberty Mut. Ins. Co., 314 N.E.2d 37, 37-39 (N.Y. 1974)
21. A.Y. McDonald Indus. v. Ins. Co. of N. Am., 475 N.W.2d 607, 624 (Iowa 1991)
22. DAN B. DOBBS, THE LAW OF TORTS § 452, at 1282 (2000
23. Union Oil Co. v. Oppen, 501 F.2d 558, 570 (9th Cir. 1974)
24. Pruitt v. Allied Chem. Corp., 523 F. Supp. 975, 980 (E.D. Va. 1981)
25. Oil Pollution Act of 1990, 33 U.S.C. § 2701 (2006
26. 33 U.S.C. § 2702(a
27. 33 U.S.C. § 2702(b
28. 33 U.S.C. § 2704 (c)(1
29. JOHN C.P. GOLDBERG, LIABILITY FOR ECONOMIC LOSS IN CONNECTION WITH THE DEEPWATER HORIZON SPILL 17 (2010), available at http://lawprofessors.typepad. com/files/goldberg-report-on-economic-loss-liability-11-22-10.pdf.
30. 33 U.S.C. § 2702(b)(2)(D
31. Duane Reade, Inc. v. St. Paul Fire & Marine Ins. Co., 279 F. Supp. 2d 235, 238-40 (S.D.N.Y. 2003)
32. 411 F.3d 384 (2d Cir. 2005
33. Am. States Ins. Co. v. Kolums, 687 N.E.2d 72, 78-82 (Ill. 1997
34. Kenneth S. Abraham, The Rise and Fall of Commercial Liability Insurance, 87 VA. L. REV. 85, 97-98 (2001)
35. ROBERT V. PERCIVAL ET AL., ENVIRONMENTAL REGULATION: LAW, SCIENCE AND POLICY 438 (6th ed. 2009)
36. Oil Pollution Act of 1990, 33 U.S.C. § 2716 (2006)
37. Tom Baker & Sean Griffith, The Missing Monitor in Corporate Governance: The Directors' and Officers' Liability Insurer, 95 GEO. L.J. 1795, 1834 (2007)
38. TOM BAKER & SEAN GRIFFITH, ENSURING CORPORATE MISCONDUCT CONDUCT 73-74 (2011)
39. W. Kip Viscusi & Richard J. Zeckhauser, Deterring and Compensating Oil-Spill Catastrophes: The Need for Strict and Two-Tier Liability, 64 VAND. L. REV. 1717, 1721-22 (2011
40. Mark A. Cohen et al., Deepwater Drilling: Law, Policy, and Economics of Firm Organization and Safety, 64 VAND. L. REV. 1853, 1898-1900 (2011
41. Press Release, Munich Re, Munich Re Develops New Insurance Solution for Oil Catastrophes (Sept. 12, 2010), available at http://www.munichre.com/en/ media-relations/press-releases/2010/2010-09-12-press-release.aspx