Willis: Oil rig losses to push up rates
The Deepwater Horizon and Aban Pearl drilling rig losses, which have left energy insurers with a $795m (£542m) bill, will cause rate increases and destabilise the market, Wills has claimed.
In its latest Energy Market Review, the broker has revealed that many insurers honored commitments that were in place prior to the losses and, as a result, will like to drive up rates.
Willis energy
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