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The total cost of repairs could be as much as $490mn, although the ultimate size of the claim remains unclear. -
Jones specialises in international upstream business and is experienced in offshore platforms.
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The MGA, which has capacity from Berkley Offshore and Munich Re Syndicate, is to start underwriting in June.
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The carrier aims to make its entire global operations climate neutral by 2030 and has set new investment targets.
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His arrival comes in the wake of a series of departures from Validus Re’s specialty reinsurance team.
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The newly created Insurance Rebellion dumps fake coal on the doorstep of One Lime Street.
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Most of the loss comes from BI, with the remainder split between physical damage and extra expenses.
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In the downstream energy insurance market, 2021 has begun relatively quietly in terms of loss activity.
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The partnership will focus on onshore wind and solar projects in the US and Canada with a line size of up to $50mn per location.
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The appointment comes after the departure of its Netherlands-based team and Sophie Irvine in the UK.
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The global natural resources director said “walking away” from risks was unhelpful and a “policy of engagement” was needed.
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Capacity above a certain limit remains unavailable, with coal and oil sands industries affected especially.
