Insight and Intelligence on the London & International Insurance Markets

9 February 2012

Rig explosion owner is OIL member with possible commercial exposure

2 September 2010

The owner of the offshore Gulf of Mexico oil rig which suffered a major explosion today (2 September) is a member of Bermuda-based industry insurance mutual OIL and has bought commercial cover in the past.

Independent oil exploration company Mariner Energy is reported to be the owner of the structure located in the Vermilion 398 block, 80 miles south of Vermilion Bay along the central Louisiana coast.

Current coverage is unconfirmed. But, Mariner's 2008 annual report stated that for the...

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