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Onshore losses confuse energy sector.
(From Insurance Day)
Byline: Three big onshore losses valued at about $850m have thrown the energy insurance market into a state of confusion
WHEN Insurance Day last analysed the state of the global energy insurance market just before Christmas, it seemed a pretty straightforward affair. Two years of bumper profits on the back of massive rate and deductible increases and exceptionally low losses had almost erased the bitter memories of seemingly endless years of carnage for the energy insurers. Capacity was rising, the onshore market was seeing big reductions in rates, offshore was on the turn and only the more specialist lines such as control-of-well ...
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