Latest Energy Headlines
All the headlines from our Energy Topic Page, ordered by recency.
Ironshore’s Pembroke Syndicate to Expand Professional Indemnity Business
Aug 12 2010 // Ironshore Inc. announced that its U.K- based Pembroke Syndicate 4000 has introduced a Professional Indemnity product to provide comprehensive coverages for the Oil & Gas industry worldwide. Coverages are underwritten...
Texas Oil & Gas Association Earns $3.5M Texas Mutual Dividend
Aug 11 2010 // Texas Mutual Insurance Co. announced a $3,566,002 dividend to the Texas Oil & Gas Association (TxOGA) purchasing group. The dividend was based largely on the group’s premium volume and loss ratio. TxOGA has...
How Oil in Gulf Region Could Complicate Hurricane Recovery
Aug 10 2010 // If a hurricane hits the Gulf Coast and whips up oil from BP’s massive spill, cleanup workers will not be able to swoop into action to fix the mess. A new Obama administration edict requires that the oil be tested...
Florida Developer Sues Halliburton Over Oil Spill
Aug 10 2010 // Florida real estate developer St. Joe Co. is suing Halliburton Co. over its role in the rig explosion that led to the massive oil spill in the Gulf of Mexico. St. Joe said late Wednesday that Halliburton, which was...
Pipeline Company Buying Homes Affected by Michigan Oil Spill
Aug 10 2010 // The Canadian company whose pipeline ruptured and dumped hundreds of thousands of gallons of oil into a southern Michigan waterway is buying two homes affected by the spill, and several other homeowners are considering...
AIG Posts Q2 Loss; Chartis Insurance Stable Despite Flood, Oil Spill Claims
Aug 6 2010 // American International Group Inc. reported a $2.7 billion quarterly loss compared to a net profit of $1.8 billion for the same quarter a year earlier. The second quarter 2010 loss was primarily due to a $3.3 billion...
Spain $1 Billion Lawsuit Over Sunk Tanker Dismissed
Aug 5 2010 // A U.S. federal judge dismissed Tuesday Spain’s $1 billion lawsuit against an organization that declared seaworthy a tanker whose 2002 sinking created one of the world’s biggest oil spills. U.S. District Judge...
European Insurer Groups Weather Storm, Oil Claims But Outlook Cloudy
Aug 5 2010 // Major European insurance groups weathered a slew of damage claims for storms and the collapse of the Deepwater Horizon oil rig to post stronger-than-expected half-year earnings on Wednesday. But prospects for the rest of...
CNA Expands Construction Resources to Renewable Energy Contractors
Aug 5 2010 // CNA now has a Commercial Affiliation Marketing (CAM) program for renewable energy contractors. CNA’s Renewable Energy Contractors insurance program is designed for non-residential wind, solar and geothermal energy...
Investors Seek Oil Firms’ Safety Plans, Insurers’ Underwriting Plans
Aug 5 2010 // In the wake of the BP oil disaster, more than 50 U.S. and other environmentally-active global investors have sent letters to major energy companies asking them to disclose information on their spill prevention and response...
McLane Joins GCube Insurance Services as Senior VP
Aug 4 2010 // Newport Beach, Calif.-based GCube Insurance Services Inc., a global insurer of renewable energy technologies, announced today that John McLane has joined the company as senior vice president. McLane will be responsible for...
U.S. Says Vast Majority of BP Oil Gone, Remainder Not Serious Threat
Aug 4 2010 // The vast majority of oil from the BP spill in the Gulf of Mexico is gone, President Barack Obama’s energy adviser said Wednesday, and the remaining oil reportedly does not pose a serious threat. The U.S. government...
Japan Tanker: Al Qaeda Claims Responsibility; Insurers Monitor Events
Aug 4 2010 // A militant group linked to al Qaeda said on Wednesday that a suicide bomber was responsible for a mysterious explosion on a Japanese-owned oil tanker a week ago near the Strait of Hormuz. But analysts are sceptical about...
BP Speeds Up Claim Payments to Businesses Affected by Gulf Oil
Aug 4 2010 // BP says it has begun expediting claim payments to businesses affected by the oil disaster in the Gulf of Mexico, including establishing an Immediate Action Claims Team. According to a press update issued yesterday, the...
Research Warns Spill Damage to Gulf Homes Could Reach $28 Billion
Aug 3 2010 // The British Petroleum, DeepWater Horizon oil spill may result in a loss in home value in Gulf coast communities of $648 million over one year, according to a new report from CoreLogic, a provider of information, analytics...
Towers Watson: Gulf Oil Spill not a Major Event for P/C Insurers
Aug 2 2010 // The Deepwater Horizon disaster in the Gulf of Mexico will not be a major event for the property/casualty insurance industry, but it may spur tightening of insurance terms and prices in the energy sector, according to...
BP Oil Spill Disaster Creates Opportunity for Environmental Contractors’ Market
Aug 2 2010 // Key Coverage Issues for Agents to Consider When Selling Pollution Coverage No matter which television channel or Web site you turn to, the Gulf oil spill has dominated the news. This is an environmental crisis that will...
Sen. Nelson Questions BP Tax Break for Oil Disaster Cleanup Costs
Jul 30 2010 // A U.S. senator from Florida called for a congressional inquiry into BP Plc’s plan to use losses from the Gulf of Mexico oil spill to reap $10 billion in tax benefits. Senator Bill Nelson said Wednesday he wants a...
House Set to Debate Oil Liability Bill
Jul 30 2010 // Three months after the catastrophic oil rig explosion that sent millions of gallons of crude spewing into the Gulf of Mexico, the House of was poised Friday to debate legislation clamping down on the industry’s...
U.S. Regulators Demand Fix for Failed Oil Pipeline in Michigan
Jul 30 2010 // U.S. regulators have told Canada’s Enbridge to detail a safety and repair plan for a failed oil pipeline in Michigan after warning in January the company appeared to be in violation of safety standards because it was...
