23 February 2018

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2017 downstream losses approach $3bn

9 October 2017

The prospect of an "immediate correction" to downstream energy rates, which have been on a downward trajectory for several years, now seems likely with insured losses for the year to date approaching the $2.85bn mark, according to JLT Specialty.

Of course, there could be more pain to come, the broker noted in its latest quarterly newsletter on the energy market, as this figure does not incorporate recent undetermined losses from hurricanes Harvey and Irma.

The largest loss to date is...

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