INSURER SET FOR $1 BILLION HIT OVER BP OIL SPILL

Members of the Lloyds of London Insurance market could have to pay out more than $1.3 Billion (£863.7 Million), to help cover the cost of cleaning up the BP Oil spill in the Gulf of Mexico.

Update

After the failure of the top-kill procedure, BP are now working on what is called the Lower Marine Riser Package (LMRP) cap containment system.

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