Aon Benfield and Guy Carpenter create $1bn+ energy liability facility
In an unprecedented move, Aon and MMC have teamed up to create a facility to offer $1bn+ of excess liability cover to oil companies for control of well and pollution clean-up costs, The Insurance Insider can reveal.
According to sources, the Torus-fronted facility brings together 30+ reinsurers from Bermuda, the US and Europe, each typically committing lines of $25mn-$50mn.
The development comes as delegates arrive in Monte Carlo for the annual Rendez-Vous where the energy (re)insurance markets after Deepwater Horizon...
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