QBE Oil, Gas and Transport Autumn Sector Update 2022
Authored by QBE Senor Risk Underwriter Annaka Charters
Since oil prices peaked in March, market volatility has continued, and despite some price softening, they remain significantly above those seen in recent years with no real signs of abating. The full sanctions on Russian oil imports are not set to take effect until the end of 2022, so uncertainty around the impact this may on the market remains. Motorists have seen prolonged periods of high pump prices, impacting both businesses and consumers alike.
QBE European Operations is part of QBE Insurance Group, one of the world’s leading international insurers and reinsurers and Standard & Poor’s A+ rated. Listed on the Australian Securities Exchange, QBE’s gross written premium for the year ended 31 December 2018 was US$13.7 billion.
As a business insurance specialist, QBE European Operations offers a range of insurance products from the standard suite of property, casualty and motor to the specialist financial lines, marine and energy. All are tailored to the individual needs of our small, medium and large client base.
We understand the crucial role that effective risk management plays in all organisations and work hard to understand our clients’ businesses so that we offer insurance solutions that meet their needs – from complex programmes to simpler e-trading solutions – and support them in minimising their risk exposures. Our expert risk management and rehabilitation practitioners focus on helping clients improve their risk management so that they may benefit from a reduction in claims frequency and costs.