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Brazil: Insurance industry lacks capacity to cover pre-salt oil exploration programs

March 12, 2014 - 6:30am

Brazil's insurance industry requires capacity and expertise of international insurers to support the risks associated with pre-salt oil exploration programs, Dennys Zimmermann, a partner at law firm Tauil & Chequer Advogados, said.

Mr. Zimmermann said "with the increase in oil and gas activity and in the unexplored pre-salt area where risks are larger and different, we will need the expertise of the London market in particular," BNamericas reported.

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