NU Online News Service, April 7, 1:08 p.m. EDT
An insurance consortium for energy coverage introduced in light of the Deepwater Horizon event may not be a large source of coverage for major oil companies, which are likely to continue self insuring and purchasing only modest amounts of coverage, according to a Moody's analyst.
The reason, James Eck, vice president-senior credit officer with Moody's writes in Moody's Reinsurance Monitor, is that "there is not enough insurance capacity available to make a meaningful difference to [oil companies] based on their capitalization and core earnings power."
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
