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Summing up the insurance market for upstream and downstream energy risks, a Willis report says a “fragile stability” is prevailing where pricing is flat to slightly up. But Willis says factors such as overall market-hardening and the ongoing Euro crisis could create a more challenging market for buyers.

For the upstream energy market, which involves exploration and production, Willis says modest rate increases are the norm. Capacity in the upstream market has increased to a new record level: Overall levels, says Willis, are nearing the $5 billion mark.

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