Oil and Gas Insurance

This is a form of energy insurance which provides cover to those engaged in Oil and gas activities. There are two broad types of cover, they are:

Construction Insurance

This is similar to the usual Contractors All Risks insurance. It provides cover against loss or damage to:

  • Offshore/Onshore construction works.
  • Other construction activities.
  • Plant and equipment.
  • Third party liabilities.
Operations Insurance

This can be regarded as the actual oil and gas risk as it takes care of production activities which usually starts after construction. The cover includes loss or damage to:
  • Off-shore Assets
  • On-shore Assets
  • Stock of crude
  • Refinery
  • Plant and equipment such as rigs, platform, vessels used in the exploration and production of petroleum products

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