Energy

Power market shows softening environment

According to the latest Power Market Review from Willis, insurance rates in the power sector are expected to soften further in 2010, despite the existence of many of the conditions that would normally presage a hardening market.

Deepwater impact on rates "modest"

Major losses in the Gulf of Mexico will not have the same market-changing impact on the upstream energy insurance market as Hurricane Katrina, according to Marsh.

Marsh appoints new claims leader

Marsh has appointed Martin Clark as its global energy practice claims leader. Based in London, Mr Clark will have overall responsibility for managing the claims of Marsh’s energy clients worldwide.

Transatlantic Holdings records fall in income

Transatlantic Holdings has recorded a second quarter net income of $111m, or $1.70 per common share (diluted), compared to $112m, or $1.68 per common share (diluted), for the same quarter last year. It saw a $14m hit from the Deepwater Horizon explosion.

Inside View: On the brink of change

Despite BP's self-insured status, oil and energy (re)insurance could be about to undergo radical change in the wake of the Deepwater Horizon disaster, writes Alistair Lockhart-Smith

Rethink: On the brink

Our monthly roundup of reader opinion shows that rates are stable but that a natural disaster could soon change the playing field

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