Deepwater Horizon: Hard market harbinger?

UK’s Guardian newspaper warns about a hard market – presumably energy only, the story isn’t clear – thanks to the oil spill. Others have made the same call, and I guess we’ll see.

Meanwhile, the Guardian story notes Swiss Re estimates losses between $1.5B and $3.5B. The $1.5B is the current analyst best guess from several sources. The higher number comes into play if  oil reaches the shore, where it triggers Business Interruption coverage.

Finally, this: Losses so far by individual insurers total about $700m. What with $700m being less than $1.5B and all, it sounds as if someone, somewhere is not fessin’ up.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: