Eight members of the Lloyd’s market are to be honored at the end of the month by becoming some of the first insurance professionals to be inducted into the Offshore Energy Center (OEC) Hall of Fame.
A bulletin on the Lloyd’s Website (www.lloyds.com) notes that the “eight will be honored by the OEC as pioneers who have supported the offshore energy industry, they’re to be joined by four US insurance figures and become the first insurance professionals to be recognized.”
The list of Lloyd’s honorees includes “a father and son, Harold and David Hill, joined by Henry Chester, John Oliver, Gale Coles, Peter Wright, George Stewart and Mike Adams,” said the bulletin. “The Lloyd’s market has been active in this industry since it’s inception over 50 years ago, and sadly Henry Chester, Harold Hill, Peter Wright and George Stewart will be receiving the accolade posthumously.”
David Hill, who is currently a broker with Jardine Lloyd Thompson, noted that two years ago: “The OEC approached the market to ask for nominations with a view to including insurance practitioners in the Health, Safety & Environment: Offshore Structures and Activities Insurance category, and we provided a long list of names of those who we felt matched the criteria.
“The Lloyd’s market began to involve itself with the offshore energy market in the 1950s. In the beginning it was a few individuals who were feeling their way into the sector and the risks involved and producing insurance solutions to satisfy the industry’s needs.
“However in 1959 it was agreed to form, on an unofficial basis, the Rig committee which was set up to create policy wordings and with them, rating guidelines. It became apparent that there was a great deal of potential in the energy sector and since that time the market has played a significant role in the development of insurance programs for the offshore energy companies.”
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