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Renewal discussions for beleaguered drilling contractor Transocean's physical damage insurance programme look set to deliver a doubling of premium, Inside FAC understands.

Apart from the hike in premium, with renewal discussions still taking place with only days to go before the 1 June deadline, there have so far been no significant changes to the structure of the programme, according to one energy underwriter close to negotiations.
As such, there have been no significant changes to retentions, with a $125mn per...

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