Rules follow Deepwater Horizon disaster
The government has today introduced new insurance rules in the event of North Sea oil spills.
The rules, drawn up by the Department of Energy and Climate Change, mean that UK offshore oil and gas firms will have to prove they have “financial responsibility” for drilling operations before cover is allowed, according to the BBC.
The changes were tabled after a review following the Deepwater Horizon oil spill disaster in 2010.
The department’s guidelines hint that current offshore oil and gas cover is enough for most firms, but that companies in more treacherous waters may need more cover.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
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