The Alberta Horizon oil sands upgrader loss that was set to cost onshore underwriters around $1bn has reportedly settled for only $486mn.
The event is widely regarded as one of the largest man-made
losses of 2011.
According to Marsh's latest Energy Market Monitor, "it would appear that a settlement has now been reached and the claim to the commercial market (excluding retentions and OIL) stands at $486mn".
The reported settlement is a significant boon to the sector, as it had...
You are currently viewing an incomplete version of this article. If you are a subscriber then please login now. If you are a non-subscriber but would like to be able to view this article, then please select from the purchasing options below.