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Volume 27, Issue 3

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June 16, 2014

Hurricanes, the Gulf of Mexico and Energy Risks

If a strong hurricane were to pass through the Gulf of Mexico the overall effect on U.S. oil and natural gas supply would not be as severe as in past years, due to declining production in the region, according to a report from the U.S. Energy Information Administration (EIA).

However, Artemis blog warns that this won’t change the potential impact to insurers and reinsurers, particularly with the removal and decommissioning of rigs also being insured.

In its post, Artemis notes that the reinsurance and insurance-linked securities (ILS) market in recent years has been placing an increasing focus on gaining access to underwriting energy risks, particularly physical damage risks due to storms and earthquakes.

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http://www.iii.org/insuranceindustryblog/?p=3688