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Construction and downstream energy react to loss experience as upstream registers small increases.
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Property insurers are also set to take a significant hit from a gas explosion in Massachusetts last year.
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The broker’s Marketplace Realities report foresees property and marine rates rising as much as 15 percent, and energy lines jumping up to 20 percent.
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The underwriting plan builds on last year’s decision to curtail fossil fuel investment.
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The executive takes on management responsibility for aviation and marine .
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The company is partnering with Scor to provide capacity for its credit insurance policy.
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The MGA has also gained 9000 series coverholder status.
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Insurers are now achieving double-digit rate rises, with some loss-hit accounts up 100%.
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Poor recent loss record and a lack of corrective rate action mean jobs could be lost and capacity cut, Marsh-JLT Specialty has warned. -
QBE is the latest (re)insurer to halt cover and pull investments from projects involving the fossil fuel.
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The Western Australian town of Karratha lies in the path of the storm, which skimmed the coast at the same speed as a Category 2 hurricane.
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Raging fire at Intercontinental Terminals Co’s facility has reginited while a wall holding back toxic liquid has collapsed.
