Cargo insurers can expect to face a large exposure value after the recent tanker attacks in the Gulf of Oman.
Facing Future Energy Risk
07 October 2014 | Press Article
Russell Group asked a panel of leading figures in the Energy re/insurance market for their view on two questions on risk accumulation and the lessons learned from the Macondo disaster. The responses highlight that the market is looking to its risk exposures ever more closely.
Russell Group MD Suki Basi who participated in the Marine and Energy Risk magazine debate said: "Following the major losses of the past the question is have any lessons been learned by the industry? On the face of it, the answer looks to be no. What the market needs to do is to look at how it can effectively gather the granular information it requires, use the information to build up its aggregation models and test its exposures against various differing scenarios that have to include multi-insured events."
Roundtable Participants as follows:
Dominick Hoare Joint Active Underwriter Watkins Syndicate (DH)
Frank Costa President Berkley Offshore Underwriting Managers (FC)
Dieter Berg Senior Executive Manager for Marine Munich Re (DB)
Suki Basi Managing Director Russell Group (SB)
Peter Sydenham Global Head of Marine Reinsurance Managing Director Property & Specialty Underwriting (PS)
Jerry Garner Managing Director Willis Energy (Upstream Broking) (JG)