NU Online News Service
The Deepwater Horizon oil rig explosion and spill is not a "watershed" event for the property and casualty industry despite an expected $4-to-$6 billion in commercially insured losses, Towers Watson said.
Towers Watson said the event may spur tightening of insurance prices and terms in the energy sector and noted that litigation may take decades to resolve.
In addition, directors and officers liability and workers' compensation losses may mean further payouts for the industry, and Towers Watson noted that other companies may be dragged into litigation as the process plays out.
Continue Reading for Free
Register and gain access to:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
