Oil and gas contractor insurance

Here are some key steps that insurance brokers can follow to source insurance cover for the oil and gas industry:

Conduct a risk assessment: Insurance brokers should conduct a thorough risk assessment of the client's operations and exposures, including the type of oil and gas activities involved, geographic location, environmental and safety risks, and regulatory requirements.

Identify insurance requirements: Based on the risk assessment, we will identify the types of insurance coverages that are required, such as property damage, business interruption, pollution liability, directors' and officers' liability, and workers' compensation.

Research available insurance markets: We research the available insurance markets that offer coverage for the oil and gas industry, including specialist insurers and Lloyd's syndicates.

Build relationships with underwriters: We endeavour to build strong relationships with underwriters who specialise in the oil and gas industry to obtain access to their expertise and knowledge.

Negotiation: We will negotiate insurance terms and conditions on your behalf with underwriters to ensure that the policy provides adequate coverage and is tailored to your requirements.

Manage the policy: Once the policy is in place, we provide ongoing support to the client, including managing claims and ensuring that the policy is updated to reflect any changes in the client's operations or risks.