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Offshore energy costs to increase "modestly"

28 July 2010

Large losses sustained in the Gulf of Mexico will not have the same market-changing impact on the upstream energy insurance market as other events such as Hurricane Katrina, according to a new report published by Marsh.

Read more: hurricane katrina marine energy marsh Jim Pierce deepwater horizon

Large losses sustained in the Gulf of Mexico will not have the same market-changing impact on the upstream energy insurance market as other events such as Hurricane Katrina, according to a new report published by Marsh. 

Following Hurricane Katrina, the market experienced great reductions in capacity and subsequent rate hikes. However, in its latest Energy Market Monitor, Marsh reports that...


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Poll

Catastrophe bond issuance was $4.3bn in 2011. How much new issuance will there be in 2012?

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$4bn-$5bn
22%
$5bn-$6bn
11%
$6bn-$7bn
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Quote

If last year was the year of the cat, then this year could be the year of the debt crisis.

Mike Van Slooten, head of international market analysis at Aon Benfield