Insight and Intelligence on the London & International Insurance Markets 23 Apr 2018
Energy market braced for Papua New Guinea loss
- 9 April 2018
The downstream energy market is staring down the barrel of a loss that could run to hundreds of millions of dollars after an earthquake in Papua New Guinea impacted a major energy project, The Insurance Insider understands.
Sources have talked about an economic loss to the project of as much as $1bn from the quake, with the QBE-led commercial market cover set to be impacted along with ExxonMobil's captive insurer.
The news comes after The Insurance Insider reported last week...
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