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Transocean wins one indemnification battle

January 27, 2012

BP has been told by US District Judge Carl Barbier that it must cover Switzerland-based Transocean for compensation-related loss to third parties as a result of oil spilled below the ocean surface. Transocean was the owner of the Deepwater Horizon semi-submersible rig that caught fire after the Macondo well suffered a blow-out on the Gulf of Mexico sea bed in April 2010. However, the judge also ruled that BP would not have...

Marine insurers must rethink business model

January 28, 2012

The way the marine insurance market operates has changed and underwriters must respond by reconfiguring...

Watchdog to examine IAG claims banks offer sufficient competition post AMI

January 27, 2012

New Zealand’s merger and acquisition watchdog is investigating Insurance Australia Group’s (IAG) claim banks will...

New Zealand government in chair for any further losses from Feb quake

January 27, 2012

New Zealand’s government expects total insured losses from the Canterbury earthquakes to be in excess...

Thai commissioner says cat fund will be up and running in weeks

January 27, 2012

Thailand’s insurance regulator has revealed its proposed Baht50bn ($1.61bn) catastrophe fund should be up-and-running within...

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