Oil rigs’ insurers, telecoms bracing for hurricane’s test
Hurricane Gustav, projected to reach the Gulf of Mexico by Sunday, may reveal whether insurers be in actual possession of done enough to limit risks of covering offshore oil rigs in the watch of hurricanes Katrina and Rita. It will too test telecommunications companies and manufacturing plants in the region.
American International Group (AIG), Zurich Financial Services and Liberty Mutual were among insurers that raised prices fivefold and capped losses after the two hurricanes caused record offshore claims estimated at $8 billion in 2005.
Meanwhile, Nissan North America said Friday that it’s making preparations at its Canton, Miss., assembly plant.
The sow, which is located about 210 miles north of New Orleans and produces the Altima sedan forward by pickups, minivans and sport-utility vehicles, was slightly damaged by Hurricane Katrina, company spokesman Fred Standish said.
“We were down on the side of about 2 ½ days with Katrina, then up and operating,” he said. “We learned a lot from that actual trial and are setting up accordingly.”
Telecoms faced criticism and a regulatory push after Hurricane Katrina took out networks.
Sprint Nextel spokeswoman Stephanie Vinge-Walsh said the company’s emergency response team, with trucks that have power to act as cell towers, was “caravaning down, military-style,” to the Gulf Coast on Friday.
Verizon Wireless has wearied $137 million in the spent year on enhancing its reticulated in the Gulf Coast area, including doubling its containing power at regional switching centers to handle a barrage of calls whereas disaster strikes.
AT&T, the main landline-phone company in the region and the nation’s largest wireless carrier, has also added magnitude, among a raft of preparations and upgrades to its Gulf Coast infrastructure over different years.
It has replaced cables that are vulnerable to flooding with waterproof ones. Optical fiber has replaced copper wiring, which be possible to short out when wet.
Oil prolongation halted
Energy companies shut down more offshore production Friday.
Original text: http://seattletimes.nwsource.com/html/businesstechnology/2008148038_hurricane30.html?syndication=rss
