big problem

Texas Plant Only Insured for $1M

Damage from plant explosion in West, Texas on April 25. (Charles Dharapak/AP)

One million bucks ain't gonna cut it. According to a lawyer filing suit against the owners of the Texas fertilizer plant that exploded last month, the plant only carried a $1 million liability insurance policy. The blast last month killed 14 people, injured 200 more, and destroyed blocks of nearby property. An estimate by an insurance industry group puts the damages at $100 million.