Investors Ask Oil, Insurance Groups to Disclose Safety Plans  August 5, 2010 By NATHANIAL GRONEWOLD of Greenwire
 
           NEW YORK -- A coalition of mostly institutional investors is  demanding oil and gas companies disclose their existing safeguards and  plans of action in the event of another offshore rig disaster and  possible oil spill like the one experienced by BP PLC and other  companies in the Gulf of Mexico.
Led by Ceres, a Boston-based nonprofit committed to promoting  investor activism in environmental and social issues, more than 50 U.S.  and global investors sent letters to major offshore oil and gas  producers. The letters request, among other things, that companies  disclose their investments in spill prevention technologies, their  contingency plans in the event of a deepwater well blowout and their  risk exposure to possible new regulations on deepwater drilling  activities.
Insurance companies that back policies for the oil and gas industry  also received letters from the group. Those letters ask insurers to  disclose whether they are considering adjusting their relative exposure  to the industry or are changing underwriting rules in the wake of the  disaster.
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