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.

The head of the Property Casualty Insurers Association of America said the group supports the Obama Administration’s stance on omitting wind coverage from the National Flood Insurance Program.

Department of Homeland …  Read →