Catlin leads excess and Marsh places liability for Gulf of Mexico rig
London market insurer Catlin leads the excess property damage cover for the Mariner Energy-owned oil and gas platform Vermilion Block 380 that caught fire yesterday (2 September) in the Gulf of Mexico, The Insurance Insider understands.
A large commercial loss is not expected from the platform that is valued at $32mn, with Bermuda-based industry insurance mutual OIL likely to pick up all of the property damage costs.
The Insurance Insider also understands that broking giant Marsh places the commercial liability...
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