Allianz publishes its new research about cover on risks of oil and gas energy sector

Exploration of the new territories such as Arctic shelf or deep-water deposits, lack of qualified workers as well as the pressure of the consumers and supervisory bodies set problems for oil and gas companies, is said in the new report of Allianz Global Corporate & Specialty – “Quality Matters: Evaluating the quality of insurance carriers in the oil and gas sector”.

The director for energy risks of AGCS, Paul O’Neill explains, “The growth of the world demand, the development of new deposits and technologies provide for new opportunities for the oil and gas industry, however, new risks appear as well. Oil and gas companies face increased risks of financial, strategic and reputational losses. A reduction of these risks is critically important for both the energy sector and the insurance industry”.