US Insurer HCC Medical Insurance Services, (HCCMIS), has issued a new guide for its policyholders ahead of Halloween, on how to survive an attack by zombies.
Lloyd’s underwriting group Beazley has urged hospitals and hospital groups to demand greater clarity from their insurers on the loading applied to premiums to account for claims inflation.
On the eve of the 10th anniversary of the attacks on the World Trade Center, a leading lawyer has said those events are responsible for changing the reinsurance market dramatically.
While there seems to be little shortage of available terrorism reinsurance, a report has warned there remain concerns over the ability for the industry to withstand a major attack.
The President and CEO of OIL Insurance said the mutual has changed fundamentally drawing on the lessons learned from the devastating hurricanes of 2005 and 2008.
A new offshore well liability cover has been launched by Munich Re in an effort to create a new level of risk coverage for catastrophic oil spill following well blow outs.
The insurance industry must meet the growing challenge of the systemic risk for the benefit of both the underwriters and their clients delegates were told on the opening day of the Seminar.
The global P&I market is facing a series of challenges and the global maritime market and the global economy undergo a periods of significant transition according to the ahead of the American P&I Club.
Marine and energy underwriters in the Lloyd’s market he said they will continue to push for further talks with U.S. politicians over the liability limits for oil pollution.
Houston Marine Insurance Seminar Chairman Steve Weiss welcomed delegates to Houston with the message that this year the key theme is one of transition both for the industry and the risks it is asked mitigate.
As the debate over the ongoing moratorium on offshore drilling continues, a leading loss adjuster has said the decision to move many rigs from the Gulf of Mexico to other areas of the world where they can operate is creating new risk for underwriters to consider.
As the debate over the ongoing moratorium on offshore drilling continues a leading loss adjuster has warned the departure of rigs and equipment from the Gulf of Mexico will impact the ability of market to return to normal after it is lifted.
Gordon McBurney, President and Chief Underwriting Officer, Liberty International Underwriters will deliver the keynote address tomorrow and he says the market could not be meeting at a more opportune time as it stands at a crossroads.
The Deepwater Horizon loss has been described as the offshore energy market’s “perfect storm” and one which will have long lasting implications for the future global offshore market.
There is a growing demand from rig operators for greater levels of risk management around well control issues as the underwriting community looks at their liability limits.
Whatever the level of third party liability coverage that U.S. legislators decide on in the amendment of the Oil Pollution Act the insurance industry will be asked to pick up the tab.
While the financial crisis coupled with a fall in the costs of oil and gas has seen a sharp drop downturn in offshore rig utilisation rates in all exploration and production areas of the world, claims are still on the rise according to the International Union of Marine Insurance (IUMI).
The powerful Association of Managing General Agents (AAMGA) said it believes that there will be a new system in place by the end of the year which will speed up and streamline the information its members provide to Lloyd’s.
As the efforts to stem the flow of oil from the well following the Deepwater Horizon loss shows little sign of success insurers say the final toll form the explosion and subsequent leak may be far higher then first feared.
The Executive Director of the Seaman’s Church Institute (SCI) has called on the insurance market to back its work into the study of the effects of piracy on seaman and their families.
The well, located in Keathley Canyon block 102, approximately 250 miles (400 kilometres) south east of Houston, is in 4,132 feet (1,259 metres) of water.
A series of studies by leading global climate experts have concluded that the North Atlantic hurricane season is getting longer and the major storms more severe.
The already competition onshore oil and gas market in the US has seen two new entrants in the space of two weeks with both Torus and Lloyd’s group Chaucer basing underwriters in Houston.
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