Premiums rising by 30% compared with falls elsewhere
Munich Re is to increase the amount of insurance it sells to oil-rig operators in the Gulf of Mexico following the Deepwater Horizon oil spill, because premiums are rising there, not falling, Bloomberg reports.
It will insure as much as $20bn liability cover.
Lloyd’s chief executive officer Richard Ward says insurance premiums for offshore rigs in the Gulf of Mexico could rise 30%. The Council of Insurance Agents and Brokers says premiums in other classes of insurance have fallen to their lowest in 10 years.
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The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
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