Latest Energy Headlines
All the headlines from our Energy Topic Page, ordered by recency.
What brokers need to watch for in Oil & Gas coverage
Mar 20 2006 // There are common problems that may arise in the provision of coverage for Oil & Gas operators. Among those for which the broker should be on the lookout are: The International Association of Drilling Contractors...
For Oil & Gas operators, contracts and coverages go hand in hand
Mar 20 2006 // When discussing insurance coverages for the Oil and Gas operator the term that really should be employed is “contracts/coverages,” because it is nearly impossible to separate the two–they go hand in...
Not all Oil & Gas programs are created equal
Mar 20 2006 // What do Dodge Neon, Mazda Miata and Lexus 430 have in common? Simple–they are all the same form of transportation. Each will allow you to control your travel from Point A to Point B but each has its own unique...
By W. Randolph Zator
Mar 19 2006 // Not all Oil & Gas programs are created equal The American market has expanded in numbers from AIG Oil Rig, principally alone 30 years ago, to perhaps 10 domestic energy markets. Other foreign carriers in Bermuda and...
Alaska Workers Recover 56,000 Gallons; Content Likely ‘Mostly Oil’
Mar 9 2006 // Workers in Alaska have recovered more than 56,000 gallons, or 1,335 barrels, of crude oil and snowmelt after a leak was discovered on a transit line on Prudhoe Bay, officials said. It’s still not known how much total...
S&P Raises Neftepolis Ratings to ‘B’
Mar 2 2006 // Standard & Poor’s Ratings Services announced that it has raised its long-term counterparty credit and insurer financial strength ratings on Russia-based insurer Neftepolis Insurance Co. LLC to “B”...
Judge: La. Homeowners Can Opt Out of Suit Against Murphy Oil
Feb 10 2006 // Terms of a class-action lawsuit against Murphy Oil USA does not prevent Louisiana homeowners from leaving the suit and settling their own claims stemming from the refinery’s oil spill after Hurricane Katrina, a judge...
Generali in Joint P/C Venture with China National Petroleum
Feb 1 2006 // Italy’s Assicurazioni Generali announced that it has received the go-ahead from the China Insurance Regulatory Commission (CIRC), to set up a joint venture to operate in the non-life sector with its partner, China...
Judge Gives Class Action Status to La. Oil-Spill Case
Feb 1 2006 // A federal judge has certified as a class action a lawsuit against Murphy Oil Corp. over an oil spill in Louisiana after Hurricane Katrina. U.S. District Judge Eldon Fallon’s decision applies to an area in St. Bernard...
Anchor, Not Ship Owner, Found At Fault in Delaware River Spill
Jan 23 2006 // The Coast Guard has concluded that a lost anchor in the Delaware River was the main cause of a November 2004 oil spill now ranked among the worst in the mid-Atlantic region. Investigators have cleared the shipper and...
Aon U.K. Sees Riskier Outlook for Businesses in 2006
Jan 18 2006 // Aon Limited, The U.K.-based insurance broker and risk management consultant for the Aon Group, has published its 2006 Risk Report assessing some of the major new and existing risk challenges for UK businesses. Climate...
Euler Hermes Issues Global 2006 Economic Assessment
Jan 5 2006 // Euler Hermes ACI, a provider of trade credit insurance and risk mitigation information, has released a special global risk analysis report from its U.S. headquarters in Maryland. The company, a subsidiary of French insurer...
S&P Affirms OIL’s ‘A-‘ Rating, Off CreditWatch; Outlook Stable
Dec 22 2005 // Standard & Poor’s Ratings Services announced that it has affirmed its “A-” counterparty credit and financial strength ratings on petroleum industry mutual insurer Oil Insurance Ltd. (OIL) and removed...
Lengthy Processing Time See for U.K. Oil Fire Claims
Dec 20 2005 // A bulletin on the Lloyd’s Web site notes that “claims from the biggest fire in Europe for over 50 years [the Buncefield fire] will impact the London market in two phases, according to a major loss adjuster...
OIL SPILL LIABILITY RAISED:
Dec 5 2005 // Acting Gov. Richard J. Codey has signed legislation increasing liability limits for owners and operators of vessels that discharge hazardous substances into state waterways. The move came nearly a year after an oil tanker...
The Four C’s of Risk Management for Oil and Gas Operator – Managing Contracts
Dec 5 2005 // Editor’s note: This is the second article in a series on risk management for oil and gas operators. The first article appeared in the Aug. 22, 2005, issue of Insurance Journal West region edition on page 66. In the...
The Four C’s of Risk Management for Oil and Gas Operator – Managing Contracts
Dec 4 2005 // Editor’s note: This is the second article in a series on risk management for oil and gas operators. The first article appeared in the Aug. 22, 2005, issue of Insurance Journal West region edition on page 66. In the...
Shell Handles 4,000 Damage Claims from Oil Refinery Leak
Nov 28 2005 // A Martinez, Calif., Shell oil refinery leak that sprayed 150 gallons of oil over the downtown area could cost the company more than $1 million to clean buildings and vehicles. As of Nov. 22, more than 3,500 claims had been...
The Four C’s of Risk Management for the Oil and Gas Operator – Contracts
Nov 21 2005 // (Editor’s note: This is the second in a series of articles on risk management for oil and gas operators. The first appeared in the Aug. 22, 2005, issue of Insurance Journal–Texas/South Central.) In the first...
The Four C’s of Risk Management for the Oil and Gas Operator – Contracts
Nov 20 2005 // In the first article of this series we discussed the importance of the retail broker reading, studying and comprehending the various contracts that control the oil and gas operator’s world. There are two areas of...
