Deepwater Horizon oil rig continues leaking oil as claims rise

Owner BP expects its self-insurance and captive insurance to cover costs associated with a massive clean-up effort, which has been said to be costing $6m a day.

Reinsurance sources have estimated that the total claims from the disaster could reach close to $1bn, much of which is expected to be covered in Lloyd's and Bermuda.

The giant oil slick from the leak

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Why insurers armed with risk insights don't need to retreat

As climate change intensifies weather-driven natural catastrophes, Moses Ojeisekhoba, CEO of Swiss Re Global Clients and Solutions, argues sophisticated, data-driven risk insights are needed by society to both mitigate as well as adapt to evolving perils before our options narrow.

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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