NU Online News Service, July 23, 3:34 p.m. EDT
The extent of damage and insurance industry losses from the BP Gulf of Mexico oil spill disaster is still unknown, but an industry environmental coverage expert said insurers should use the event to create new coverages rather than exclusions.
John O'Brien, president of the Environmental product line at Ironshore, during an Advisen webinar on the BP oil spill predicted that rates for "anything in the oil and gas arena" will go up from 10-to-20 percent.
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