Energy News

ACE Promotes Langdon to Global Head of Upstream Energy

ACE Group announced that James Langdon, Lloyd’s market manager for energy within ACE Global Markets, has been promoted to the new role of global head of upstream energy as the company continues to build its presence across the world’s energy …

Kaufman Financial Acquires Canadian MGA Avec Insurance Managers

Burns & Wilcox Canada, a subsidiary of Kaufman Financial Group, announced it has acquired Avec Insurance Managers, a Toronto-based managing general agent with expertise in marine, inland marine and other specialty commercial lines. Avec will become part of Burns & …

BHSI Lowers Casualty Minimum Premiums, Adds Deductible Options

Berkshire Hathaway Specialty Insurance (BHSI) is broadening its casualty appetite in the U.S., lowering its minimum policy premium for eligible products liability, general casualty, energy and trucking risks, while introducing deductible options for primary general liability and product liability policies. …

Louisiana Needs More Electricity For Industrial Boom: Utility

The state’s largest utility needs to come up with more power before the end of 2016, and then find even more by the end of 2019 to meet the demands of Louisiana’s ongoing industrial boom. That likely means building power …

Cooper Gay Creates Latin American Energy Practice

Cooper Gay Miami, the Latin American headquarters of global reinsurance, wholesale and specialty broker Cooper Gay Swett & Crawford (CGSC), announced the creation of a Latin American energy practice. The practice will target regional business with a particular focus on …

XL Group, Munich Re, New Energy Risk Provide Insurance for Fuel Cell Project

XL Group’s Complex Accounts unit, Munich Re’s Green Tech Solutions team, and consultants New Energy Risk (NER), have teamed up to deliver a performance insurance policy for a portfolio of fuel cell servers installed across the U.S. The insurance cover …

Burns Joins Worldwide Facilities in Houston

National wholesale insurance broker and managing general agent, Worldwide Facilities Inc., announced that Rick Burns has joined its Houston office as senior vice president and product development officer. Worldwide’s Houston office primarily serves the energy and marine markets. Burns spent the …

Assessors in Louisiana Seek Updated Valuation Rules for Oil Wells

A group of Louisiana tax assessors is advocating for a series of property valuation changes that, if approved, could significantly increase property tax rates for oil and gas well operators, as well as revenues for local governments. The proposed rules …

Climate Change Bottom-Line Talk Grows, S&P Director Says

Companies and governments worldwide are changing their behaviors and examining their risks in the face of climate change, a managing director for Standard & Poor’s said as he held up the insurance industry as a good example of how to …

Insurance Capacity for Oil & Gas Is Plentiful but Contract Wording May Be Tricky

The insurance capacity is there to cover the risks associated with the current oil and gas boom in Texas and the nation, experts say, but agents and their customers should be vigilant in their efforts to understand the wording in coverage contracts. As …