Energy Newsletter - October 2018

04 October 2018

We are pleased to launch the fourth edition of our energy newsletter, which provides news, opinions and advice on risk and insurance topics affecting energy companies. Our main feature focuses on law and jurisdiction clauses in insurance policies.







IN THIS EDITION

Energy insurance market update

ENERGY MARKET UPDATE

The environment for buyers remains attractive although there is a level of merger and acquisition (M&A) activity in all areas from clients to insurers and the distribution chain. There is a significant possibility of further M&A activity which may provide some headwinds in terms of premium dollars lost to the market, a tightening of discipline in the market and a reduction of options for clients in terms of their distribution chain.

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.

Law and jurisdiction clauses in insurance policies

LAW AND JURISDICTION CLAUSES IN INSURANCE POLICIES

This feature article gives an overview of the issues that need to be considered when selecting or drafting choice of law, jurisdiction and associated clauses.

New Energy Insurance Product and Development

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.

Update on Energy Loses

UPDATE ON ENERGY LOSSES

In this article we cover 2018 energy losses (physical damage and operator’s extra expense but excluding third party liabilities) of USD 10 million or more that we are aware of at the time of writing. We also show the total of all claims under USD 10 million (with a minimum claim USD 1 million) to give an overall total for the year so far.

Energy Legal roundup

ENERGY LEGAL ROUNDUP

We look at a recent case where the UK courts decided that a subcontractor was not covered by its construction project insurance. The second focus is on the new test for maritime and contract determination, following US court appeal.

What is a claims made policy?

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 the ‘Claims Made’ versus ‘Occurrence’ versus ‘Occurrences Reported’ liability wordings.

For further information, please contact John Cooper, Managing Director on +44 (0)20 7466 6510 or email john_cooper@jltgroup.com.

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