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