September 2002
Columns
Offshore update
Offshore U.S. terrorism risk insurance. As reported by IADC in its August Drill Bits, the U.S. Congress has been deliberating the Terrorism Risk Insurance Act of 2002, (S.2600), which would provide the insurance industry additional security in the wake of the September 11 attacks. Lloyd’s of London has asked IADC for its support of key amendments to S.2600 necessary to provide adequate coverage for U.S. Outer Continental Shelf (OCS) oil / gas facilities. The amendments are also supported by the API.
