Insurers need to address growing fracking risks and develop policies to specifically cover the emerging threat, according to a new report from the Chartered Insurance Institute (CII). The report, which is focused on UK risks, says the expected increase in onshore fracking following government support for the technique needs to be tackled head-on by insurers through designing specific policy cover.…
Barbican Insurance Group has appointed Marc Sullivan to its energy underwriting team. Mr Sullivan, who joins Barbican from Starr Underwriting Agents, will take on the role of class underwriter for downstream energy risks. He will report to Olivier Decombes, head of energy, power and utilities at Barbican. Mr Sullivan began his insurance career at Hiscox in 2006 and has spent…
Marsh boosts communications, media and technology unit, HDI Global and Thomas Miller partner for offshore risks, XL Catlin expands fine art policy, Nash heads up Guy Carpenter’s new international unit and AEGIS London appoints for political risk expansion.
How do you manage a $110m insurance programme that requires six months of renewal negotiations and encompasses 30 different countries? How do you do that while the price of your company’s main product is on the slide and the firm is completing a major acquisition? That was the challenge faced by Antonio de la Torre 18 months ago when he…
AXA to underwrite energy and chemical risks, Health cover offered to ship crew under new partnership, Markel International boosts political risk team, UK P&I Club appoints Devereese as loss prevention advisor, Verisk partners with Driveway to cut motor risk and Chubb creates new digital SME role.
Risk managers can expect a less generous underwriting approach to key specialty lines such as casualty, cargo, offshore energy and terrorism from the London market in 2017 according to recent evidence from the corporation of Lloyd’s, the Prudential Regulatory Authority (PRA) and comments made during recent second quarter results by insurers.
Risk and insurance managers within the offshore renewable wind sector need to focus on risks related to high voltage subsea cables, according to GCube, the London-based specialist underwriter of renewable energy projects.
Risk and insurance managers in the international power generation sector can look forward to another soft and highly competitive insurance market over the year ahead, according to Marsh’s latest report.
Artex acquires Kane’s captive business, Marsh launches explosion modelling tool for energy sector and Generali names Alan Moore CUO of Global Corporate & Commercial.
Marsh has warned energy firms against cutting risk management investment following research that reveals a link between oil price falls and major accidents in the sector.