Gulf Oil Spill Will Not Affect Property Insurance Market

Despite the damage caused from the Deepwater Horizon oil spill in the Gulf of Mexico, the event is expected to have no impact on the property insurance marketplace, an executive from Marsh said. Duncon Ellis, U.S. leader of the global property practice for insurance broker Marsh said while the oil spill from the Deepwater Horizon caused "quite a bit of environmental damage and garnered a significant amount of media coverage, there was little property damage" caused by the event.