Category Archives: Energy

Why is Today’s Energy Underwriting Landscape so Bleak?

oil platform at sunset

Many of the factors that make up today’s bleak underwriting landscape for energy insurers are interrelated and can be summarised as follows.  Continue reading →

Volatile Oil Prices Prompt Firms to Reassess their Risk Tolerance

falling oil prices

Oil prices have dropped 40% in the past six months alone, leading many oil companies to significantly curtail their production. Profit margins and cash flows have been considerably impacted as a result and now, the drastic drop in prices means … Continue reading →

What Oil Volatility Means for Political Risk

oil barrels (blue)

The price of a barrel of oil has slipped by almost 40% in the last few months (from $115 to $70). This is primarily due to three reasons: the global economy is consuming less oil; OPEC has started producing more oil; the US has been producing shale gas much more effectively and efficiently. Continue reading →

What Risks Will Emerge in 2015?

storm light house

Our list of emerging risks for 2015 covers the kind of perils that keep risk managers up at night: cyber risk, oil price volatility, the changing demands of today’s workforce, the over-confidence corporations have in the ability of their entity … Continue reading →

Using a Broker as a Sophisticated Risk Partner: 3 Energy Risk Managers Speak Out

energy risk managers

Energy companies around the world are increasingly adopting more sophisticated approaches to managing their risk.  No longer is simple insurance purchase the key driver of their risk management strategy; instead they are increasingly using captive insurance companies, adopting more sophisticated … Continue reading →

Scariest Risks of 2014

Scariest risks 2014

As risk advisors, WillisWire bloggers tend to think less of ghouls and goblins during the Halloween season than of the frightening real risks our clients face. This year they faced more than their share of new ones, with ISIS, Ukraine, … Continue reading →

Energy Insurance Market is Not Truly Soft

Oil Refinery (offshore)

In this short video for www.re360.co I explain why I don’t believe the global energy insurance market is truly, what we would call ‘soft’ – i.e. very broad coverage for buyers at very low premium rates. I go on to … Continue reading →

A Softer Energy Market in 2014?

Petrochemical Refinery

In the absence of major catastrophe losses last year, energy insurers will be under pressure to compete more vigorously in both the upstream and downstream markets for preferred business in 2014, while the excess liability market place remains challenging. In … Continue reading →

North American Insurance Buyers Facing Improved Market Conditions

Marketplace Realities: 2014

Property insurance rates are coming down, and the upward rate pressure on many other lines of business is easing. This is the word from Willis North America’s Marketplace Realities, the longstanding semiannual publication predicting price movement and key trends for … Continue reading →

Scariest Risks of 2013

Scariest Risks

Halloween season always puts us in a dark frame of mind here at WillisWire, reflecting not on ghosts and goblins but on all the scary risks we help our clients prepare for.  This year, 18 of our bloggers submitted the … Continue reading →