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Conoco's Killingholme oil refinery in the UK, which was damaged by fire on 16 April, was insured thro...

Conoco's Killingholme oil refinery in the UK, which was damaged by fire on 16 April, was insured through a wholly owned Bermuda-based captive, Danube Insurance. Conoco's European insurance manager, Robin Kaye, said cover above $50m is placed with well-known insurance and reinsurance companies: "It's placed as a reinsurance of Danube, but Danube retains $50m." There were no serious injuries and the fire did not affect the petrol or coking operations. However, the whole plant will remain closed for at least two to three weeks. Marsh was broker for the commercially placed cover, while Royal & SunAlliance is the public liability insurer. Petrol stocks had been built up ahead of a planned closure for annual maintenance, so Conoco does not expect the disruption in output to lead to a fuel shortage.
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