One sector of the energy industry that has received major attention in recent years—very little of it positive—is shale-gas drilling using hydraulic fracturing, or “fracking.”
But despite the surge of negative PR over the last few years, fracking is not a new concept. “It has been around for years,” notes Robert Rokicki, senior vice president of Oil, Gas, Petrochemical and Chemical Property for Liberty International Underwriters. “The exposures are not that different” from other energy-extraction operations, he adds.
What has changed: Fracking is being used to a greater extent, in more areas—some highly populated—in an effort to extract natural gas and oil from the ground using water and chemicals.
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