Rig owner seeks to cap liability, cites insurer advice

Transocean Ltd., owner of the Deepwater Horizon rig that exploded and sank last month, wants to limit its liability for the accident to about $27 million, according to a U.S. court filing Thursday. With analysts anticipating many years of legal jostling related to the Horizon disaster, which killed 11 workers, Transocean is seeking to set an upper limit on the damages that might arise from more than 100 lawsuits already filed against the company.