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BMS Launches Windbreaker Product to Protect OIL Members from Cover Shortfall



	"Market changes have created a measurable gap in coverage for OIL members, resulting from losses exceeding the aggregate limit, the BMS Windbreaker product will provide OIL policyholders with seamless coverage to bridge that gap." Michael Cahill Executive Vice President BMS Intermediaries, Inc.

The following press release formed the basis for the article "BMS launches new product to meet energy insurance demands" in the Royal Gazette.

Shelton, Conn., August 7, 2007

BMS announced today the launch of a product for OIL Insurance Limited policyholders. The new Windbreaker product offers cover for any potential shortfall due to a named windstorm loss exceeding OIL's aggregate limit of $750 million.

Unprecedented losses from Hurricanes Katrina and Rita resulted in two significant changes to OIL policyholders' coverage. Prior to 2005, the commercial energy market would make a concession to provide drop-down coverage for OIL members, covering a shortfall in limit. Following the hurricanes, the commercial market no longer provides this drop-down coverage and OIL has lowered its aggregate limit.

"Market changes have created a measurable gap in coverage for OIL members, resulting from losses exceeding the aggregate limit," said Michael Cahill, Executive Vice President BMS Intermediaries, Inc. "The BMS Windbreaker product will provide OIL policyholders with seamless coverage to bridge that gap."

The policy will be underwritten and issued by an A-rated or better company. It will provide a $50 million aggregate limit for the 2007 wind season as standard, with additional limits available. The product is available to all OIL members by contacting BMS Intermediaries, Inc. directly or via their broker.