Monday, May 06, 2013

Texas Fertilizer Plant Continues to Express its Freedom

Remember when a Texas fertilizer plant exploded and showered its Freedom all over the town of West, Texas, teaching everyone a much-needed lesson on the uselessness of state regulations? Well the lesson is not over yet, because it turns out that the plant only had $1,000,000 in liability coverage and caused over $100,000,000 in damages.From the Dallas Morning News:
An attorney for United States Fire Insurance Co. of Morristown, N.J., confirmed Friday that West Fertilizer had $1 million in liability coverage “with no excess or umbrella coverage.”
Fertilizer facilities like the one in West are not required to have liability insurance that would compensate for damage they might cause, state insurance officials say, even if hazardous material is on hand.

No comments: