London, 9 October 2008

Independent oil and gas companies (IOCs) are purchasing more offshore business interruption insurance than ever before according to Marsh, the world’s leading insurance broker and risk adviser. The demand is being driven by increased uncertainty in the sector especially in relation to volatile oil and gas prices, the impact of the credit crunch on investment portfolios and increasing activity from Junior Oil Companies which are seeking financing to drive further exploration.

To address these concerns Marsh’s Energy Practice is to hold a conference for IOCs on Thursday, 16 October 2008 at its offices at Tower Place in London from 4.30pm to 6.30pm to assess how operational changes are affecting business interruption risk.

The conference will hear from the market’s leading experts on how companies can assess, measure and transfer potential business interruption risks.

Stephen Thurtle, Business Interruption specialist in Marsh’s Energy Practice – and who will be keynote speaker at the conference, said: ”Business interruption is a major concern for IOCs. The difficulties they face in measuring risk have never been more challenging. While many are buying increased levels of insurance there remains a question of whether they are the most appropriate levels and whether they are at the right terms and conditions. The conference is very timely, especially as companies contemplate their business plans for next year.”

Other speakers will include Andrew George, Head of Marsh’s Energy Practice in Europe, the Middle East and Africa, as well as Marsh’s Energy Claims Leader Paul O’Keefe and Upstream Broker Blake Roseveare and Sam Harrison of QBE Underwriting Ltd.

Delegates will also receive a full copy of a Marsh report which analyses: UK continental shelf BI risk coverage and premiums; insurance management; and, suggestions for changing premium calculations to take into account the way an insured uses risk management.

Journalists are welcome to attend the conference. Please contact Jason Groves son 020 7357 1455 or Eileen Mercer on 07990 802 830 to reserve a place or for further information.

Click here for information about Marsh