So July is now well and truly on us and as per usual the reinsurance world has gone on holiday

For those of us without a yacht or summer residence to escape to there has still been plenty to entertain us with the ongoing Deepwater Horizon saga - the lawyers are salivating already.

The reinsurance forums on LinkedIn have lit up with a great number of comments as the industry debates what the overall effect of the disaster will be with an overall consensus that we may well see a shift in the way that captive insurers and reinsurers operate as fully risk retained captives may become very unfashionable - particularly in the energy world.

There's also the consensus that the legal battles will run on for years, especially the class actions, so the real winner - as per usual - will be the lawyers.

On a lighter note blog-re has been nominated as a Top 50 Insurance Law Blog through the LexisNexis Law Community. If you are a legal eagle and enjoy our blog please give us a vote here http://bit.ly/beDC27

Have a good week