Off-Topic: Rambling on Risk

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	Name:	GoneFishin -
	Subject:	Rambling on Risk
	Date:	5/26/2010 1:31:32 PM

BP elected not to insure the project. When we speak of risk, I wonder if anything would have been handled differently if an insurer was involved from the beginning of the project? Would they have required specific processes to be in place and adhered to? Would they have had engineers on the rig 24/7?

When one speaks of risk, we all establish our degree of risk taking and insure against them. An insurer will take the risk if they feel there is a decent chance they can make money. If you were the President of an insurer, would you put your money on the line and insure a deep water well for 75million or more unless you could have your engineers on the rig? I do wonder if things would have turned out differenty.