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The facility will offer up to $50mn of coverage per insured vessel.
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Insurance Insider revealed this deal in January.
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WTW predicted that ‘meaningful softening’ could creep into energy markets during the year.
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Increased reinsurance retentions left some insurers with their worst net results in a decade.
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Alex Mott and Henry Brown worked in the hull and liability team at Price Forbes.
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Recurring loss patterns have led to squeezed coverage, leaving clients exposed.
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The average rate increase in the cyber market stands at 1.6%.
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Richard Chu joins from PartnerRe, where he was head of financial risks for Asia Pacific.
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Graham Knight will become chairman of natural resources.
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The broker said there was a ‘disparity’ in market response to war in the Middle East.
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The broker has made a string of hires in its upstream energy division.
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Environmental activism and terrorist activity are also set to rise.