Why Energy Insurance ?
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Highly flammable substances – in large quantities
Flammability limits equals Explosive limits
High Values
High EMLs
Offshore Assets – tough and challenging
environment and weather conditions
 Difficult and high cost involved in repair
 Blowout and Cratering as a unique hazard
Energy Activities
 UPSTREAM
 Geophysical Surveys
 Seismic, 3D Seismic
 Drilling a well
 Petroleum Production
 Surface Treatment and
Storage
 Transportation to the land
 Pretreatment on land
 DOWNSTREAM
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Refineries
Petrochemicals
LNG Trains
Gas Processing Plants
Integrated Fertilizer Plants
What we Insure ?
3 phases...
 Exploration
 Construction
 Operation
 Production
 Refining
 Marketing
What we Insure ?
3 phases...
Exploration
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Land Rigs
Mobile Drilling Rigs
Platform Rigs
Jack-up Rigs
Semi-Submersibles
Drill-ships
Exploration
Risks and Insurance Solutions
 Physical Damage of Rig /
Drilling Unit
 Down-hole equipment
 Owned and hired equipment
 Removal of Wreck
 Operators Extra Expenses
(Cost of Control of Well /
Redrilling Expenses / Seepage
& Pollution)
 Third Party Liability
 War & Political Risks
 Loss of Hire / Loss of Earnings
 Energy Package Insurance
 Oil and Gas Well Drilling
Tools Floater Form
 London Standard Drilling
Barge Form
 Hull Clauses in case of
Mobile units
 EED (8/86)
 Excess Liability forms
 Custom made LOH / LOE
forms
Exploration
Underwriting Information Required
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Assured
Rig Specs
Operators Details
Loss Record
Rig Personnel’s CVs
Rig Owners Experience
Rig Survey reports
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Well Locations
Well Schedule
Well Footage
Type of Well :
Exploratory/Developmental/Workover/
Producing/ Shut-in/Abondoned
Vertical / Horizontal
AFE (Authorization For Expenditure)
Limit to be Insured
Coverages to be Insured
Drilling Contractors Expereience
Type of Drilling Contracts :
Daywork/Footage/Turnkey
Loss Record
What we Insure ?
3 phases...
Production.....Platforms
 Fixed Platforms
 Steel Jacket / Deck
 Standard Steel
 Compliant Tower
 Gravity Based
 Tension Leg Platforms
 Floating Structures
 Semi-submersible
 FPSO
 SPARS
What we Insure ?
3 phases...
Production.....Others
 OFFSHORE :
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Sub-sea Systems
Pipelines
Flowlines
Raisers
Umblicals
SPM / SBM
 ONSHORE
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Refineries
Petrochemical Plants
Gas Processing Plants
LNG Trains
Integrated Fertilizer
Plants
 Marketing and
Distribution Operations
Production
Risks and Insurance Solutions
 Physical Damage of Offshore /
Onshore Property
 Removal of Wreck
 Operators Extra Expenses
(Cost of Control of Well /
Redrilling Expenses / Seepage
& Pollution)
 Third Party Liability
 War & Political Risks
 Loss of Production Income
 Energy Package Insurance
 London Standard
Platform Form
 EED (8/86)
 Excess Liability forms
 Broker Drafted forms
 JRC forms for LOPI
Production
Underwriting Information Required
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Assured
Asset Schedule
Insured Values
Platform Details :
Prduction/Wellhead/Accommodation
Operators Details
Loss Record
Survey Reports
Valuation Reports
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Well Locations
Well Schedule
Well Footage
Type of Well :
Exploratory/Developmental/Workov
er/Producing/ Shut-in/Abondoned
Vertical / Horizontal
AFE (Authorization For Expenditure)
Limit to be Insured
Coverages to be Insured
Drilling Contractors Expereience
Type of Drilling Contracts :
Daywork/Footage/Turnkey
Loss Record
What we Insure ?
3 phases...
Construction
 Offshore
 Platforms, Pipelines, Subsea Equipment, SPM,
Cable-lay
 New Construction
 WELCAR 2001
 Onshore
 Munich Re EAR/CAR
 Broadform
Are we making money...?
How big could be Energy Losses ?
Hurricanes can create havoc.....
Some of big losses......
Some of big losses......