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Court: BP has no coverage for oil spill under Transocean insurance

It all came down to a missing comma.

By Rosalie L. Donlon | Updated on February 13, 2015

Friday the 13th was a bad luck day for BP Plc.

On Friday, the Texas Supreme Court rejected BP’s claim for $750 million worth of coverage under Transocean Ltd.’s insurance policies to help pay the billions of dollars in damages and other costs associated with the ill-fated Deepwater Horizon oil rig in the Gulf of Mexico. BP has already paid more than $28 billion in damages and costs related to the April 20, 2010 explosion and oil spill. The incident killed 11 people and started the worst offshore oil spill in U.S. history.

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