Bermuda insurers on slip for US oil rig explosion - sources

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Ace, Axis Capital and Lancashire are all on the slip for the US oil rig which exploded in Louisiana earlier this week, according to Reinsurance sources.

Eleven people are still missing from the explosion on the rig, which is operated by Transocean on behalf of BP.

Ace is said to be one of the major insuers on the slip, which was brokered by JLT's

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ABI insists fire safety scheme is temporary

Mervyn Skeet, the Association of British Insurers’ director of general insurance, has outlined how the trade body will ensure the Fire Safety Reinsurance Scheme will only last three to five years, and how it will should end criticism of brokers earning commission for arranging cover.

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