Marine Insurance – Offshore Energy

• Cost of accessing deepwater components far higher than the cost of component September 19, 2018
  Insurance contracts might not be best-designed for deepwater projects, because quite often the cost of an item several hundred metres under the surface paled into insignificance when ….
• Building The Unthinkable in the Offshore Energy World September 19, 2018
  Before Harrison spoke, James McDonald, chairman offshore energy Committee , Talbot Underwriting Lt, had introduced the workshop, noting that "we are building the unthinkable in the offshore ….
• Oil companes’ squeezing of costs could lead to increased risk: Surveyor September 19, 2018
  The collapse in the oil price from 2014 to 2016 caused oil companies to begin a process that eventually slashed the breakeven cost for extracting crude by 50%, down to $40 from $80....
• Global marine premiums up by 2% but challenges remain for marine underwriting, says IUMI September 18, 2018
  Against a positive backdrop of a benign claims environment in some sectors, IUMI's statistics showed an increasing mismatch between premium income, covered risk and claims costs …..
• Local Bournemouth protest against “reckless” oil plans September 11, 2018
  Local residents gathered on Saturday September 8th to protest on Bournemouth beach to protest against what they called reckless oil rig plans ….
• Storm Gordon makes uneventful landfall after GoM platforms closed as a precaution September 6, 2018
  Oil was at just below $78 a barrel on Wednesday after US Gulf tropical storm Gordon weakened and moved away from oil-producing areas. There had been concern the previous day as oil ….
• Resolve completes heaviest salvage lift in the Americas August 24, 2018
  Resolve Salvage and Fire Americas has successfully raised sunken derrick barge DB1, thus executing the heaviest salvage lift ever accomplished in the Americas....
• ConocoPhilips settles dispute with Venezuela’s PDVSA August 23, 2018
  US-based energy company ConocoPhillips has signed a $2bn settlement agreement with Venezuelan state-owned oil company PDVSA ….
• PDVSA reaches deal over storage fees owed to NuStar Energy August 22, 2018
  Venezuela’s state-owned oil and natural gas company Petróleos de Venezuela SA (PDVSA) has reached an agreement with creditor US-based energy firm NuStar Energy LP over storage fees owed by ….
• Markel Intl names Engelen as senior marine & energy liability underwriter August 3, 2018
  London, UK-based specialist insurer Markel International, a subsidiary of US-based insurer Markel, has named Simon Engelen as Senior Marine & Energy liability underwriter ….