BP logo Close window
green line
BP Annual Review 2003
green line
Introduction
green line
Performance highlights
green line
Chairman's letter
green line
Group chief executive's review
green line
It starts here
green line
Financial performance
green line
Business performance
green line
Environmental and social performance
green line
Summary accounts
green line
Summary corporate governance
green line
Summary directors' remuneration report
green line
Board of directors
green line
Annual general meeting and information for shareholders
green line
Further information
green line
 Insurance
The group generally restricts its purchase of insurance to situations where this is required for legal or contractual reasons. This is because external insurance is not considered an economic means of financing losses for the group. Losses will therefore be borne as they arise rather than being spread over time through insurance premia with attendant transaction costs. The position will be reviewed periodically.




In this section
arrow  Results
arrow  Dividends and share repurchases
arrow  Critical accounting policies
arrow  Adoption of international financial reporting standards
Insurance
arrow  Creditor payment policy and practice
arrow  Financial tables


 
Related links
 
A brief description of our reporting terms
arrow  Results definition
businesswoman taking notes




© 1999-2004 BP p.l.c Legal Notice