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Got to love Texas, a great place to do business. No government regulations, and forget about that liability insurance nonsense. That insurance is expensive, and it cuts into profits. Who needs it anyway? The Texas Tea Baggers know that the Federal Government will come through with the disaster money that they are entitled to.
Quote:
Texas fertilizer plant that exploded carried only $1 million in liability coverage
Published: May 4
McALLEN, Texas — The Texas fertilizer plant that exploded last month, killing 14 people, injuring more than 200 others and causing tens of millions of dollars in damage to the surrounding area had only $1 million in liability coverage, lawyers said Saturday.
Quote:
Roberts said he expects the plant’s owner to ask a judge to divide the $1 million in insurance money among the plaintiffs, several of whom he represents, and then file for bankruptcy.
Quote:
“It’s rare for Texas to require insurance for any kind of hazardous activity,” he said. “We have very little oversight of hazardous activities and even less regulation.”
Good luck. Beyond the liability limits, I doubt the owners have a significant amount of personal assets to go after.
Doesn't mean lawyers still won't sue them. Of course the bigger issue is that the people that were all harmed or killed because of this will never get any real form of compensation for their loses.
This thread is so stupid I hesitate to even respond but I just have to ask - does the OP REALLY believe that there are no government regulations on businesses in Texas?
By the way, Kaboom - if you live in California as your profile implies, your state doesn't require a bit more liability insurance on a company the size of the West, Texas plant, than the insurance policy that was VOLUNTARILY in place in Texas.
Did the West plant have enough insurance? No. Does the state of California require a higher level of insurance on the same size and type of business in California? No.
This thread is so stupid I hesitate to even respond but I just have to ask - does the OP REALLY believe that there are no government regulations on businesses in Texas?
There is regulations on business. There was a call for government to closely regulate fertilizer plants with regular audits. Republicans thought it was a waste of money and shot it down and asked businesses to self-regulate themselves. Well, this business did a poor job of self-regulating themselves and failed to properly report to the state. This lack of proper regulation has blood on it's hands.
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