UPSTREAM ENERGY
SUBCLASSES
- Property Damage
- Hull & Machinery
- Operators Extra Expense
- OPOL
- Business Interruption
- Construction All Risks
- Named Atlantic Windstorm
TARGET CLIENTS
- Major Oil Companies
- National Oil Companies
- Independent Oil Companies
- Service Companies
- Drilling Contractors
APPETITE
- Property damage – Offshore: platforms, pipelines,
subsea fields. Onshore: pipelines, gas plants,
terminals, oilfield equipment - oHull & Machinery – FPSOs, FSOs, FLNGs. Low
appetite for offshore drilling units. - Operators Extra Expense – both offshore and
onshore – preferably not stand-alone - OPOL – North Sea – as part of package which would
include property damage and operators extra
expense coverage - Business interruption – preferably not stand alone and
in a package with property damage cover. Appetite
same as property damage above - Construction All Risks – Platforms, pipelines, subsea
fields, floating production units, mobile offshore
drilling units - Named Atlantic Windstorm – platforms, pipelines,
wells, floating units
COVER
- Property damage – physical loss/damage cover for
upstream/midstream assets including platforms,
pipelines, gas plants, oilfield equipment - Hull & Machinery – physical damage and wreck
removal coverage for hull and machinery of energy
assets such as FPSOs / FSOs / FLNG / offshore
support units and mobile offshore drilling rigs - Operators Extra Expense – covers operators cost of
controlling a well, re-drilling a well and associated
seepage and pollution from a ‘well control’ event - oOPOL – North Sea pollution cover from offshore
facilities - Business interruption – covers loss of revenue / loss
of production income / fixed costs / debt servicing /
increased costs of working arising out of a physical
loss / damage or well control event - Construction All Risks – covers construction and
installation of offshore energy assets such as
platforms, pipelines, floating production units - Named Atlantic Windstorm – windstorm coverage for
offshore energy assets
CAPABILITIES
- Offshore Property USD 100m all interests combined
- Operators Extra Expense USD 30m iro
Exploratory/Developmental wells - Midstream USD 37.5m all interests combined
- Construction All Risks USD 100m
- Named Atlantic Windstorm USD 15m per program