Rig losses lead to higher rates

by Richard Kilner

Story link: Rig losses lead to higher rates

Global insurance broker Willis Group Holdings has revealed that the Deepwater Horizon and Aban Pearl drilling rig losses have given upstream energy insurers a record breaking monthly financial hit of $795m. The losses have eroded stability in the market and driven up rates, with insurers now looking to increase rates for new business. The Aban [...]