Energy
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Solar activity and magnetic poles key to risk: Rogov
The modern risk management profession is currently going through an 'ideological crisis' according to a leading Russian risk management expert.
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IUMI supports effort to establish best practice Arctic exploration
The International Union of Marine Insurance (IUMI) has put its backing behind the draft Arctic Marine Best Practice Declaration that…
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Willis fears exits from downstream energy market
In worrying news for energy suppliers and those that rely on their products, some downstream energy insurers may be 'on…
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Energy insurance stable but market faces possible inflection point: Marsh report
The energy market may be undergoing momentous change but a review of the energy insurance sector by broker Marsh suggests…
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Offshore safety directive includes mandatory risk management and transfer
A provisional deal on proposed legislation for the safety of offshore oil and gas operations that was sparked by the…
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Oil and gas firms face heightened cyber threat
Oil and gas firms globally are increasingly exposed to cyber threats as a result of converging technological, terrorism and political…
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Corporate round-up
ACE launches energy insurance syndicate at Lloyd's, AIG appoints new president and CEO of its Aerospace division and Hyperion takes…
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Hydrofracking risk the big unknown warns lawyer
New hydraulic fracturing technology is one of the big risks facing major energy companies and insurers alike, delegates at the…
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Munich Re steps further into brave new world of offshore wind
Munich Re is getting braver when it comes to insuring offshore wind parks. It claims that via its specialist primary…
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EU commissioner’s call for extended compulsory nuclear cover welcomed by Munich Re
Munich Re, the world's largest reinsurer, has welcomed a call by the EU's Energy Commissioner Günther Oettinger for the introduction…
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Oil and gas sector welcome EP vote to drop safety regulation
The UK offshore oil and gas industry has welcomed a vote by the Industry Committee of the European Parliament in…
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Uptick in global power industry losses threatening energy supply
The increasing number of large insured losses suffered by the global power industry since 2005 is putting pressure on energy…
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Potential softening in 2012 for ‘stable but fragile’ energy market reports Willis
Willis believes there is potential for a softening of the energy market in 2012 if record market capacity remains, loss…
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Claims disputes spark standard wording effort in mining sector
The mining property insurance market is reacting to massive losses in 2011 with falling capacity, higher retentions and increased prices.…
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Firms in Asia underinsuring assets warns report
Telecommunications, energy and petrochemical companies are underinsuring their industrial assets in Asia by an average of 30%, and by up…
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Russia tops ranking of riskiest countries for mining companies
With the exception of virtual no-go areas Venezuela and Zimbabwe, Russia is the riskiest country in which mining companies can…
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Broker focuses on risks of Iranian nuclear plans
JLT’s World Risk Review has published its latest risk report on Iran, entitled Iran and the International Atomic Energy Agency…
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New managing agent to bring $200m of nuclear insurance capacity
A new managing agent has been launched bringing new capacity to the global nuclear insurance market. Northcourt Limited can place…
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Power market still waiting for market hardening—Willis
The onset of harder insurance market conditions in the global power market is currently being restrained by overcapitalisation and the…
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Improved risk management vital for renewable energy sector
The renewable energy sector needs to improve risk management and access alternative sources of capital as operational risks rise and…
