Brokers unite to create $1bn+ energy liability facility
Broking giants Aon and MMC have combined in the wake of the Deepwater Horizon disaster to create a facility providing $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 facility brings together 30 or more reinsurers from Bermuda, the US and Europe, each typically committing lines of $25mn-$50mn.
Aon, its reinsurance arm Aon Benfield, Marsh and Guy Carpenter have worked together on the structure...
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