Rising reinsurance rates and falling capacity have left some insurers and US energy producers with more to fear than in past recent years as the Gulf of Mexico hurricane season begins today.
A severe storm season would put “big pressure” on the Gulf energy industry, according to brokers at Marsh, as producers have been left with little or no insurance cover.
Meanwhile, A cutback in the state reinsurance fund has left insurers of Floridian buildings in Florida less able to afford reinsurance, according to research out today(MON).
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