Energy
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A claims dispute between the US Coast Guard and insurers has sparked fear about aggregations.
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Staff movement has been elevated in the energy market since the beginning of the year.
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Staff turnover has been elevated in the energy market this year.
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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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The carrier has also hired Henry Henderson from Liberty.
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The broker made a number of energy hires from Price Forbes and Miller last year.
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Scor partnered with Acrisure Re to build the consortium.
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The appointment comes following the appointment of Ahad Khalid as head of power.
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He will report jointly to Melanie O’Neill and Ronald Bolaños.
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The carrier is rebuilding its energy underwriting team after a number of staff departures.
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The senior upstream energy broker departed Marsh last autumn.
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Siemens Gamesa is one of the world’s leading renewable energy manufacturing companies.
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A trio of underwriters from GCube will lead the business.
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The carrier has been expanding its team since launching into the energy market last year.
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Gaughan took over the leadership of SiriusPoint’s energy underwriting operation last year.
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The carrier has made numerous energy and power appointments in recent months.
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The global segment leader for power generation moves to Tokio Marine HCC soon after his colleague Nicola Hannay.
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IGI writes a worldwide upstream energy book, with a lead underwriting capability and maximum line size of $75mn.
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The Syndicate 2050 will provide capacity for new energy projects that support the transition to net zero.
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The carrier has made several senior hires in energy and construction this year.
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Mass construction in remote locations is throwing up challenges around modelling exposures.
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The renewables insurer flagged a “staggering increase” in hail events, which was driving double-digit rate increases.
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The broker is hiring in energy following the departure of several downstream brokers for Price Forbes.
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Tokio Marine HCC restructured its marine, energy and renewables division earlier this year.
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