Energy
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Covid-19 and climate to drive fundamental shift in power risks
Covid-19 and climate change will fundamentally change the risk profile of power generation companies, according to the latest power market…
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Leading insurers to stop insuring Adani coalmine after early project cover reports
AXA XL, HDI Global and Liberty Mutual will not provide future insurance to Adani Group’s controversial Carmichael coalmine in Australia,…
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Hard power market has ‘truly arrived’: Willis
The power sector faces a “truly” hard insurance market as insurers continue to demand price increases, restrict capacity and tighten…
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Energy losses spike over last two years as resilience lags risk, warns Marsh JLT
Eight of the largest energy losses on record took place in the last two years, according to a new report…
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Marsh JLT boosts renewable energy team
Marsh JLT Specialty has boosted its renewable energy team with the creation of new regional roles. Oliver Holme has been…
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Blanket management decisions stopping upstream energy from ‘re-softening’, says WTW
The energy insurance market remains two-paced, with upstream conditions likely to be “re-softening” if insurance companies were not making blanket…
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‘Savage’ upstream energy conditions threaten capacity exists, warns Marsh JLT Specialty
Marsh JLT Specialty has warned that “savage” conditions facing upstream energy firms are likely to be made worse by insurance…
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AXA XL appoints UK head of downstream and power
AXA XL Insurance has promoted Peter O’Neill to UK head of downstream and power, from his current position as underwriter.…
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Tokio Marine HCC buys renewable energy risk specialist GCube
Tokio Marine HCC is buying renewable energy risk specialist GCube in a bid to tap into the growing market. GCube…
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Swiss Re to stop underwriting carbon-intensive oil and gas firms
Swiss Re will stop (re)insuring the world’s most carbon-intensive oil and gas companies, extending its stance on coal underwriting that…
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Renewable energy insurance market has ‘truly hardened’ during last year: Willis
Pressure to improve profitability in the London and European insurance markets has been felt by renewable energy firms, with insurance…
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Japanese insurers come under increased pressure over coal industry support
The pressure on Japanese insurers and wider financial services groups to pull their backing from the climate-damaging coal sector has…
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Neon to enter Lloyd’s run-off in 2020
Lloyd’s managing agency Neon Underwriting is being placed into run-off by its US owner American Financial Group (AFG). AFG said…
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Energy liability market increasingly difficult for buyers says Marsh JLT Specialty
The energy casualty market is becoming increasingly difficult for buyers as the impact of losses in the wider liability space…
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Hartford latest to pull coal cover and investment as pressure ramps up
US insurance group The Hartford has joined the fast-rising number of leading insurers to announce plans to pull cover and…
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Swerma president urges insurers to boost innovation as market hardens
The president of Swedish risk management association Swerma has called on the insurance industry to improve product development and boost…
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Liberty Mutual bows to public pressure with new coal policy
Liberty Mutual Insurance has become the latest insurer to overhaul its coal and energy investment and underwriting policies, after it…
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Liberty Specialty Markets promises to be stable option for European buyers as market changes
Liberty Specialty Markets (LSM) will continue its push into Europe and be a stable partner for risk managers through changing…
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Talanx signs up to UN Principles for Responsible Investment and operates zero carbon footprint
The Talanx Group, parent company of HDI Global and Hannover Re, has signed up to the United Nations-supported Principles for…
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LMA releases silent cyber standard clauses
The Lloyd’s Market Association (LMA) has published model cyber clauses for property, marine and energy policies written in the London…