Energy News

California’s Last Nuke Plant Would Be Closed by 2025 Under Deal

California’s last nuclear power plant will close by 2025 under an accord announced this week, ending three decades of safety debates that helped fuel the national anti-nuclear power movement. The state’s largest utility, Pacific Gas & Electric Co., and environmental …

Energi of Canada Offers P/C Energy Programs in West & Atlantic Canada

Energi of Canada has launched property & casualty programs for energy business in parts of Western and Atlantic Canada. The new energy programs provide risk management solutions and insurance offerings for energy related risks in the following segments: Fuel distribution …

Persistent Soft Market Begins to Hit Reinsurer Stock Prices: A.M. Best

While global reinsurers are continuing to withstand challenging market conditions, their stock prices, on average, are starting to take a hit as a result of the persistent soft market and its negative effect on top line growth, according to a …

North Dakota Governor: Oil Industry ‘Solid’

North Dakota Gov. Jack Dalrymple told industry and government officials on May 25 that the state’s unprecedented oil boom that made it the economic darling of the nation is far from going bust. “From our perspective, we think that this …

XL Catlin Strengthens Global Energy Team with 4 Senior Appointments

XL Catlin’s insurance operations announced it has strengthened its energy team globally with four senior hires: Wayne Jacobson, Joseph Tina, Helen Watkinson and Denise Dass-Hewitt. In the Americas, XL Catlin has appointed Wayne Jacobson as director of Energy Liability – …

Negative Outlook for Energy Insurers May Force Sector Exit: Willis Towers Watson

Energy insurers continue to feel the pressure caused by over-supply of capital and falling demand from buyers, which may lead them to exit or scale back their participation in the energy sector, according to a report published by Willis Towers …

Wyoming Losing Workers Due to Energy Downturn

More people are leaving Wyoming than are coming to the state in the wake of thousands of jobs being lost in the fossil fuels extraction industry, and it’s a trend that an economist doesn’t see reversing until oil and gas …

Hiscox Hires Mackey as Energy Underwriter, Completing Energy Team

Lorraine Mackey has joined Hiscox’s London market energy team as an energy underwriter. Mackey’s appointment completes the team led by Charles Rawlins, energy line underwriter, and also includes Louis Cozon. Previously at AXIS Capital, Mackey has six years’ underwriting experience …

Energy Insurers Become Latest Casualty of Oil Slump as Projects Are Postponed

The insurance industry is becoming the latest casualty of the oil price slump, with postponements and cancellations of energy projects forcing down premium rates and income in a market that was already crowded. Insurers forecast income could dive by 20 percent or …

Survey: Natural Gas Production in West Virginia Surpassing Expectations

A single Ohio County, West Virginia Marcellus Shale well yielded enough natural gas in 2014 to provide electricity for 24,315 homes, according to new numbers released by the West Virginia Geological & Economic Survey. There’s also plenty of what industry …