Adnoc fire toll moves beyond $1bn

A fire at a state-owned Abu Dhabi oil refinery in January now
looks set to cost (re)insurers well over $1bn, biting into an
excess layer with a large AIG line, The Insurance
Insider can reveal.
Sources said that physical damage resulting from the inferno at
the Ruwais facility constitutes the largest portion of the loss, at
about $800mn.
However, disruption to a neighbouring plastic plant has also
inflicted hundreds of millions of dollars of contingent business
interruption losses.
Both the...