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Claims Handling checklist

Posted by on Sep 18, 2014 in Insurance | 0 comments

Claims Handling checklist

Over the coming weeks we will be publishing a series of “know-how” guides on key aspects of insurance law, with particular focus on the relevance of these legal principles for energy and marine underwriters. We hope that these guides will also prove useful to assureds in enabling them to recognise the procedure followed and the considerations involved in the claims handler’s decision-making process. As an introduction to these legal principles, we have compiled the checklist below, which sets out 10 key points to be addressed when a claim is made     Claims Handling checklist     1 Law and jurisdiction - Check the law and...

Liability for Fracking – will current insurance policies respond?

Posted by and co-authored by Kate Betteridge on Aug 13, 2014 in EU and North Sea, Fracking, Regulation and Politics | 0 comments

Liability for Fracking – will current insurance policies respond?

The UK is on the verge of an explosion of fracking activity. Shale gas is viewed as an essential part of the energy mix and there is political enthusiasm for its perceived benefits in relation to energy security, emissions and economic stimulation. A Poyry/Cambridge Economics Study has suggested that shale gas development in Europe could add 1.1 million jobs and increase European GDP by 1% by 2050. Further, it is suggested that it will lead to a reduction in wholesale gas and electricity prices by 2050. The Environment Agency has indicated that shale gas poses new risks and challenges. There is greater impact on water resources, greater use of fracturing fluid additives...

English court approves novel means of enforcing an English jurisdiction agreement

Posted by on Aug 4, 2014 in EU and North Sea, General, Regulation and Politics, Shipping | 0 comments

English court approves novel means of enforcing an English jurisdiction agreement

Summary The English Court of Appeal handed down its judgment in Starlight v Allianz Marine (and others) [2014] EWCACiv 1010 on Friday 18 July 2014. The effect of the judgment is that the Court of Appeal has now confirmed that, where parties enter into English law and jurisdiction agreements, if one party breaches that agreement by bringing proceedings in a different EU member state, the wronged party will be entitled to claim damages and an indemnity for losses resulting from the breach. This judgment will be a welcome relief for parties who include an English law and jurisdiction clause in their agreements with counterparties based in other EU member states as it will...

Oil and Gas in Iran – Do the easing of sanctions and introduction of new petroleum contracts herald a new era?

Posted by and co-authored by James Rudge on Mar 28, 2014 in Exploration and Production, Litigation and Contracts, Middle East | 0 comments

Oil and Gas in Iran – Do the easing of sanctions and introduction of new petroleum contracts herald a new era?

With the world’s fourth largest proven oil reserves and reportedly the world’s largest natural gas reserves, there is no doubting the significance of the thawing of relations between Iran and the West.  As well as bringing much needed foreign currency to Tehran, these changes present a real opportunity for Western oil and gas companies. From 20 January 2014 the terms of a Joint Plan of Action (“JPA”) were implemented, agreed between Iran and the five permanent members of the UN Security Council plus Germany. This agreement allowed for the suspension of many sanctions in relation to Iran’s petrochemical exports and associated services in...

Is FLNG becoming mainstream?

Posted by and co-authored by Edward Hamilton on Feb 6, 2014 in Exploration and Production, General | 0 comments

Is FLNG becoming mainstream?

In our previous post “Floating Liquefied Natural Gas – the next phase in offshore energy technology?” we explored the demand for and the challenges facing the introduction of Floating Liquefied Natural Gas (“FLNG”) technology. In this follow up we will provide an update on recent developments in the sector and explore the reasons for the recent flurry of interest in FLNG projects. In September 2013 Woodside Petroleum Limited announced that it intends to use three FLNG vessels to access the substantial natural gas reserves of the Browse Joint Venture fields which lie in the Indian Ocean, 425km north of Broome, Western Australia. Prior to the...

A place for international arbitration in assessing and enforcing pollution liability?

Posted by on Feb 3, 2014 in Environment and Pollution, Exploration and Production, General | 0 comments

A place for international arbitration in assessing and enforcing pollution liability?

A jurisdiction can have, on paper, the most sophisticated liability regime in the world. There are plenty of precedents available to create such a regime. However, if, in reality, what happens is that a governmental or public body picks an astronomical figure out of the air and declaims its determination to recover that amount when either there is no reasonable, scientifically justifiable basis for that figure or the oil company knows that it is just a ‘try-on’ and will be able to do some back-room deal for a fraction of that amount, or the claim is essentially dropped by the next person to take charge of the case a few months later, this all breeds contempt...

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