Energy Newsletter - April 2019

03 April 2019

Energy Newsletter April 2019 We are pleased to launch the latest edition of our energy newsletter, which provides news, opinions and advice on risk and insurance topics affecting energy companies. In our addition to regular features, we focus on additional insured and other insurance provisions in contracts.

MAIN FEATURES COVERED IN THIS EDITION


Energy insurance market updateENERGY MARKET UPDATE

The upstream, downstream, casualty and marine sectors in recent years have very much tracked similar trends, and have been driven by the same dynamics. Now for the first time in many years we are seeing the individual sectors running at different speeds.

Additional insured and other insurance provisions in contracts ADDITIONAL INSURED AND OTHER INSURANCE PROVISIONS IN CONTRACTS

Many contracts require the contracting parties to have each other named on their respective third party liability policies as ‘additional insureds’, but what does this mean in reality; what is it meant to achieve; and does it always achieve what it’s meant to?

Update on energy losses for 2019 UPDATE ON ENERGY LOSSES

2019 energy losses (physical damage and operator’s extra expense but excluding third party liabilities) of USD 10mm or more that we are aware of at the time.

Energy insurance market movers MARKET MOVERS

With changes constantly taking place in the insurance market, we provide a short summary of the key market movers and people that have recently been in the news.

New energy products and market developments NEW ENERGY INSURANCE PRODUCTS AND DEVELOPMENTS

The energy market is constantly evolving to meet client needs; in this article we provide an update on new products and developments.

What does general average mean DEMYSTIFYING COMMON CLAUSES

In this regular feature we take a look at common clauses found in energy insurance that are often not well understood and try to look at what their intentions are, and what they cover or exclude. In this article we look at ‘general average.’


Energy insurance market updateTALK TO AN EXPERT

If you would like to talk about any of the issues raised in this article, please contact John Cooper, Managing Director -Technical on +44 (0)20 8108 9542.