Global Market Update

This edition of Marsh Specialty’s global newsletter includes analysis of insurance market conditions, an overview of the key dynamics in global regions, a risk engineering update, and an article about the growing interest in mutual insurers.

As we enter the last quarter of 2021, a common theme is the deceleration of insurance rate increases in most energy sectors, with some sub-sector exceptions, and in some cases the early signs of an approaching softening market.

Hurricane Ida had threatened to knock the market cycle off course, but while the full losses are yet to be calculated, from early reports it looks unlikely that energy and power insurers will be significantly impacted. Many insureds that suffered losses either did not purchase named windstorm coverage or the deductibles and waiting periods imposed by the market were not significantly exceeded. The cost of coverage and restrictive terms and conditions applied to this coverage means that some insureds are unable to purchase the desired level of protection for their operations.

We hope you enjoy this edition and welcome your feedback.

Oil platform on the ocean. Offshore drilling for gas and petroleum or crude oil. Industrial

Insurance Market

Aerial view of wind turbines at sea, North Holland, Netherlands

Regional Update

Oil worker is checking the pump near oil derrick on the sunset background.

Growing Interest in Mutual Insurers

Demystifying Clauses

Inspection engineers preparing to rappel down a rotor blade of a wind turbine

Risk Engineering

News Briefs

Labor Law Lawyer Legal Business Internet Technology Concept

Legal Roundup

Atlantic Name Windstorm Season Forecast

Offshore wind turbines farm on the ocean. Sustainable energy production, clean power.

Article

Offshore wind: Resourcing for growth

11/09/2024

The concept of storing electrical energy in hydrogen by electrolysis. The system captures an electrolysis unit, storage tanks, solar and wind power plants on a lush lawn among the trees. 3d rendering

Article

Delivering on hydrogen: Transport and storage solutions

02/08/2024

Large off shore wind farm at sunset panoramic 3d render

Article

Delivering at scale and keeping prices low is critical for offshore wind growth

29/04/2024

Report

Management of change

29/04/2024

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Global market quarterly update

This edition of Marsh Specialty’s global newsletter includes analysis of insurance market conditions, an overview of the key dynamics in global regions, a risk engineering update, and an article about the growing interest in mutual insurers.