Latest Energy Headlines
All the headlines from our Energy Topic Page, ordered by recency.
New Oil Slick Set to Hit Spanish Coast
Dec 2 2002 // An estimated 9000 tons (2.4 million gallons) of heavy fuel oil, discharged from the sunken tanker “Prestige,” was poised to wash up on the beaches of Spain’s Northwestern Coast beginning today. Some of...
London Market Braces for Oil Spill Losses
Nov 21 2002 // The London market faces the majority of claims related to the sinking of the “Prestige” off Spain’s Galician coast and the related oil spill, which threatens the livelihood of many in the region. The...
Latest Tanker Disaster Reopens Debate on Oil Shipments
Nov 20 2002 // Even before the oil tanker “Prestige” went to the bottom of the Atlantic off the Spanish coast yesterday, calls were being made for a reexamination of the laws governing international shipping, especially for...
OIL Ratings Affirmed
Oct 28 2002 // Standard & Poor’s Ratings Services affirmed its “A+” counterparty credit and financial strength ratings on OIL Insurance Ltd. (OIL) and removed the ratings from CreditWatch negative where they were...
Tanker Attack Terrorist Connection May Raise Rates
Oct 7 2002 // Authorities are examining the circumstances surrounding the explosion and fire that ripped through the French supertanker Limburg on Sunday morning in the Gulf of Aden off the coast of Yemen. While all but one of the crew...
Environmental-Res. Fuel Oil Tank
Sep 14 2002 // Nuts & Bolts: Zurich North America’s Environmental Group has launched its Home Environmental Protection program, which protects homeowners with residential fuel oil tanks. The coverage complements traditional...
Oil Ins. Ltd. on Watch Negative
Jun 10 2002 // S&P’s lowered its counterparty credit and financial strength ratings on Oil Insurance Ltd. to “A+” and placed the company on CreditWatch with negative implications because of catastrophe losses and a...
Oil Ins. Ltd. on Watch Negative
Jun 10 2002 // Standard & Poor’s lowered its counterparty credit and financial strength ratings on Oil Insurance Ltd. to “A+” and placed the company on CreditWatch with negative implications because of catastrophe...
Zurich Offers Home Environmental Protection Insurance for Homeowners with a Residential Fuel Oil Tan
Apr 25 2002 // Zurich North America’s Environmental Group has come up with an innovative program to provide today New York, New Jersey and Pennsylvania residents with coverage for their residential fuel oil tanks. The Home...
Caught in the Middle: When Agent Representations Lead to Liability
Feb 25 2002 // Questions often arise as to the context and circumstances in which an agent can be liable for misrepresenting coverage, or failing to obtain adequate or appropriate coverage for a customer. When an “all-risk”...
The Ocean Marine Market: A Unique Animal
Feb 25 2002 // Like life itself, insurance began in the ocean, eventually spawning like the varius land-based descendents we’ve come to know. While those terrestrial variants-auto, homeowners, commercial liability, among others-now...
Are Fine Arts Floaters A Silver Lining in the Insurance Market Cloud’
Sep 3 2001 // Unlike many lines of insurance, the fine arts and collections market has so far managed to avoid the difficulties of a hardening environment. But is it robust enough to carry the industry through tough times? Maybe not,...
Well-Control Coverage Drying Up for Small, Independents in Oil Patch
Aug 20 2001 // Oil and gas drillers in Texas are averaging about 40 new holes in the ground every day as the pace of looking for petroleum, especially natural gas, continues unabated in Texas and elsewhere, and that’s...
Global Risk Exchange To Provide Services to OIL
Jun 20 2001 // The on-line risk management service Global Risk Exchange announced that it had concluded a deal with Oil Insurance Ltd. and its subsidiary Oil Casualty Insurance Ltd. to provide them with a new technology platform. The two...
Oil & Gas Coverage Harder to Find; More EXPENSIVE
Jun 18 2001 // Crude oil and natural gas exploration and production continue at near record levels and most observers see no let up. White House officials are stumping for a national energy policy that among other things seeks increases...
Agent Target of Galapagos Oil Spill Lawsuit Threat; Policy Was Cancelled
Jun 18 2001 // Lawyers for Ecuador’s Galapagos Islands plan to sue for damages in the wake of an oil spill, according to several news reports; however, the Miamai, Florida-based insurance agency that placed the coverage maintains...
Brazil Oil Rig Sinks, Losses Could Reach $650 Million
Mar 21 2001 // Despite five days of round-the-clock efforts to save it, the 40-story oil rig, the world’s largest, owned by the Brazilian state oil company Petrobas, sank Tuesday afternoon in over 3000 feet of water 80 miles off...
Concorde May Fly Again, Despite Lawsuits by Grieving Passenger Families
Feb 5 2001 // Last summer’s tragic Concorde crash continues to produce heartache as the lawsuits multiply and negotiations break down. Settlement talks between the lawyers for the victims’ families and Air France and its...
Concorde May Fly Again, Despite Multiplying Lawsuits
Jan 29 2001 // Last summer’s tragic Concorde crash continues to produce heartache as the lawsuits multiply and negotiations break down. Settlement talks between the lawyers for the victims’ families and Air France and its...
Gerling Announces Web-Based Oil Cargo Insurance
Oct 20 2000 // The U.K. subsidiary of Germany’s Gerling Group announced that it had launched “Oilsure,” an Internet-based trading system for oil cargo insurance with an initial capacity of $50 million, through...
