The Deepwater Horizon oil disaster isn’t big enough to move the property-casualty sector to raise prices or end the soft market in the commercial lines, according to a Towers Watson analysis.

If oil from the massive spill in the Gulf of Mexico is mixed with flood waters, it will be covered under the National Flood Insurance Program.

More than a decade ago, Steven A. Rosenthal was on the front lines of the aftermath of the Exxon Valdez spill, calculating losses from nearly 30,000 individual insurance claims. Now, from his office in San Francisco, Calif., Rosenthal sees both similarities and differences in the Deepwater Horizon spill plaguing the Gulf of Mexico.

The annual hurricane season begins today (June 1), with forecasts for more storm activity than in the years since Hurricane Katrina battered the Gulf Coast.

The Deepwater Horizon disaster has sparked higher prices for insurance covering offshore drilling in the Gulf of Mexico.

Lloyd’s of London is asking a federal court to block a claim by oil company BP seeking damages against its Deepwater Horizon partner, Transocean, over oil spewing from the bottom of the Gulf of Mexico.

In what it says is a move to protect the interests of its employees, shareholders and the company, Transocean Ltd., the owner of the oil rig that sunk off the Gulf of Mexico, is asking a court to limit its liability for the accident to $27 million.

Following what the Obama Administration is calling “a massive and potentially unprecedented environmental disaster” in the Deepwater Horizon oil spill in the Gulf of Mexico, the president has sent Congress a legislative package, including a measure to raise the liability caps for oil firms.