Transocean's Excess Insurers Sue to Avoid Covering BP

HOUSTON - Excess insurers for the owner of the Deepwater Horizon oil rig have filed a declaratory judgment action seeking to avoid covering BP PLC as an additional insured. Certain Underwriters at Lloyd's London, et al. v. BP plc, et al., No. 4:10-cv-01823 (S.D. Texas).

Certain Underwriters at Lloyds and various other insurers filed the lawsuit in the U.S. District Court for the Southern District of Texas on May 21.

The excess carriers say they provided various layers of coverage for Transocean, owned Deepwater Horizon and leased it to BP.

The lowest layer policy provides coverage in excess of $50 …