Reliable Upstream and Offshore Energy Insurance

Mitigating structural and operation risks in challenging and volatile environments

Attend this three-day interactive development programme to:

  • Learn how to align strategic, operational, legal, and tactical decisions with the structural risks of the industry in challenging and volatile environments
  • Understand the needs of the industry at each stage - including the exploration, construction and operational phases – to effectively mitigate risks
  • Benchmark your policies against the complex exposures in the oil and gas business to protect your assets
  • Analyse emerging risks and trends to evaluate the extent of coverage and critical exclusions that must be addressed
  • Review claims handling issues to develop robust conflicts and dispute resolution strategies

What is the programme about?

By nature, the oil and gas industry faces a myriad of structural and operational risks. Man-made errors, technical faults and natural disasters in challenging and volatile environments are common exposures and serious but inherent threats to the safety of operations. The consequences can be severe and range from damages and monetary losses over environmental pollution to fatalities.

Although the risks vary from operation to operation and impact various business entities and contractors, oil and gas insurance policies offer risk mitigation and loss coverage to protect your business and operations. Delegates of course will gain an in-depth understanding of insurable/uninsurable risks and their impacts across all operations.


 

 

Oil and Gas professionals who want to gain a deeper understanding of recent developments impacting the oil and gas industry and their potential impact on your bottom line:

  • ​Corporate Risk Managers

  • Insurance Advisors

  • Project Risk Analysts

  • Risk Control Managers

  • Contract Managers

  • Legal Counsels

  • Financial Controllers

  • Business Development Managers

  • Commercial Managers

  • General Managers


Also relevant to team members with or in a project team that is working within this area to offer relevant and educated support.
 

DAY 1

Introduction and Overview

  • Overview of content, aims and Objectives
     
Interactive session: “Deepwater Horizon”
Analysis of the event and legal and insurance repercussions


Five Key principles of Insurance

  • Introduction to Insurable Interest
  • Utmost Good Faith
  • Indemnity, Subrogation and Contribution

History of the energy insurance market

  • Origins, development, highs and lows

Current insurance market

  • Functions and obligations of the parties

Placement of risk

  • Anatomy of an insurance placement

Managing risk by contract

  • Introduction to indemnities and how they translate to the insurance product

 

Interactive session: Insurable/uninsurable risks
Delegates will analyse the holistic view of risk and insurability


Overview of operational insurance  package

  • Template of cover and outline of sectional cover for physical damage, control of well, business interruption and third party liabilities

Overview of drilling contractor package policy

Review of Day 1 and Q/A session


DAY 2

Markets, Capacity and Pricing

  • Global market capacity, leading insurers and pricing methodologies

War and political risks for oil companies and contractors

  • Analysis of coverage scope and application

Construction all risks (CAR) cover

  • Ambitions for NOC’s – implications and opportunities for IOCs
     
Interactive session: Construction all risks (CAR) cover
Delegates will review and analyse the key features such as programme design, insuring agreements, exclusions, warranties and pricing.

Operator’s Extra Expense cover (OEE)

  • Profile on blowouts and review of the control of well policy, including re-drilling, pollution from wells and typical extensions of cover
     
Interactive session: OEE Premium
Delegates will take part in a premium rating exercise.

Pollution

  • International regime and profile on OPOL and OPA

Review of Day 2 and Q/A session


DAY 3

Third Party liabilities in upstream

  • Classification of liabilities coverage, policy forms, occurrence versus claims made, insuring agreements, exclusions, definitions

Tanker insurance

  • Overview of hull policies for tankers, LNG Carriers etc.

Financing and lender issues

  • Assignment
  • Loss Payee Clauses
  • Assured’s
  • Broker’s responsibilities

Mutual Insurance

  • Overview of coverage and rating plan for OIL Bermuda

Claims Handling Issues

  • Lillehammer Protocol
  • Role of Adjusters
  • Conflicts and dispute resolution
     
Interactive session: Piper Alpha
Delegates will conduct an in-depth analysis of claims, impact on market and feature on cross indemnity actions

Wrap up and overview of course

Course Categories

Testimonials for our Courses

“This is my first experience with Clarion Training. The course was very well organised and I will be recommending both this specific course and institute to my training advisors.”

Delivered by

David has 40 years’ experience of working within Energy Insurance Industry spending 20 years with

Dates & Locations



This course is only available as a custom course tailored for your business, contact us to discuss your requirements.