E&P energy company premiums likely to rise

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One of the world's largest reinsurance companies Munich Re has revealed that insurance cover for energy exploration and production (E&P) companies could rise in the near future, after the reinsurance firm suffered a heavy loss burden from BP's Deepwater Horizon oil rig explosion, which caused the oil spill in the Gulf of Mexico.

"Painful as the consequences of Deepwater Horizon are, it is now essential to reassess the issue of adequate insurance covers and retentions for large engineering

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