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21 May 2012

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Commercial market escapes significant Mariner Energy losses

6 September 2010

The commercial energy (re)insurance market looks to have avoided any significant losses from the fire on board the Mariner Energy-owned oil and gas platform Vermilion Block 380, which occurred on 2 September in the Gulf of Mexico (GoM), The Insurance Insider understands.

It is one of the older platforms operating in the GoM and valued at $32mn. Bermuda-based industry insurance mutual Oil Insurance Ltd (OIL) is likely to pick up all of the property damage costs. OIL is also understood...

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