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  • Faced with a slew of expected lawsuits following the loss of the Deepwater Horizon oil rig in the Gulf of Mexico, Transocean has moved to limit its liability to the $27mn value of the drilling unit.
  • The Florida property catastrophe market is facing an "unmitigated disaster" if a major hurricane along the lines of Katrina hits this year, according to Rod Fox, CEO of reinsurance broker TigerRisk Partners.
  • Think that property cat reinsurance is a short-tail class? It might be time to think again because the Florida Hurricane Catastrophe Fund (FHCF) is selling $693mn in bonds - apparently to pay for claims for the heavy 2004-05 years.
  • The Obama administration will need to rethink its proposals to eliminate the $250mn federal backstop for those that provide terrorism risk.
  • With a stellar cast assembled for an audience of 250 in New York last week, InsiderScope was a unique opportunity to connect with the zeitgeist of the (re)insurance industry. Here are just a few snippets of wisdom, observation and reflection from the day...
  • Record low valuations mean that wide-scale merger and acquisition (M&A) activity in the property casualty (P&C) (re)insurance sector is unlikely in the near-term - despite the current soft phase of the market cycle that has historically been a catalyst for deals.
  • The fate of the (re)insurance cycle is in the hands of industry leaders, according to industry legend Maurice "Hank" Greenberg.
  • Lloyd's syndicates have almost $60mn of exposure to the Aban Pearl gas rig loss off the coast of Venezuela, with Argenta leading the slip, The Insurance Insider can reveal.
  • The Afriqiyah Airways Airbus A330-200 that crashed on 12 May while attempting to land at Tripoli International Airport had a hull value of $124mn, according to market sources.
  • Senior management of energy mutual Aegis are mulling strategy and taking cover this week against the benign backdrop of Casablanca, as storms continue to rage in the energy markets.