Marsh highlights significant drop in large property losses in energy sector
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Marsh highlights significant drop in large property losses in energy sector

Luke Harrison
April 11, 2022
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Large energy property damage losses in 2020-21 saw a significant reduction, accounting for a total of $500mn across the two years, primarily due to the combined impact of the Covid-19 pandemic and well-executed business continuity planning, according to a report by Marsh.

A fire and an explosion at an oil refinery in South Africa and a fire at an LNG facility in Norway are the only two new major property damage losses that entered Marsh’s list of 100 large energy losses...

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