Energy
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Insurers claim that damage from the “detonation of an explosive” is also excluded.
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WTW predicted that ‘meaningful softening’ could creep into energy markets during the year.
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Increased reinsurance retentions left some insurers with their worst net results in a decade.
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Recurring loss patterns have led to squeezed coverage, leaving clients exposed.
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Graham Knight will become chairman of natural resources.
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The broker has made a string of hires in its upstream energy division.
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Copenhagen Infrastructure Partner’s policy is subject to a sub-limit for hail damage.
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Miller also appointed three other WTW brokers to its onshore energy team.
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The facility will target operators across the US, onshore and offshore.
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Nord Stream has named Lloyd’s Insurance Company and Arch among the defendants.
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The underwriter was overseeing MGA Kersey Specialty’s pivot to renewables.
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The pair hail from Miller and Aon respectively.
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It will begin underwriting from April 2024.
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The business will be led by Alex Kirkby, new head of marine and energy.
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Managing risks associated with the technology is essential.
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Plus all the latest executive moves and the top news of the week.
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The MGA previously hired Sara Valentine from Brit to launch in energy.
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The senior energy underwriter exited amid a strategic pivot at the MGA.
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Underwriters are pushing for rate rises, but competition is increasing.
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Kennedy previously worked as an energy broker at Aon and Marsh.
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The agreement will cover onshore windfarms, primarily in Sweden.
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Fragile supply chains are driving up costs.
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