Energy: Oil and Gas Insurance - Searchlight Insurance Training

Energy: Oil and Gas Insurance

This is an introductory workshop requiring no prior knowledge of oil & gas risks and related insurances.

It provides an overview of the onshore and offshore risks arising during exploration, development, production, refining, etc. operations, shows typical contractual relationships, reviews the development of specialist insurances (property, liability, pollution and financial), outlines current policy coverages and looks at the marketplace.

The workshop would be especially useful for those embarking on a career in in oil & gas insurance.

Level: Specialist

Duration: 1 day(s) CII CPD Hours: 6
     

WORKSHOP OBJECTIVES

By the end of this workshop delegates will have an understanding of:

a) how hydrocarbon reservoirs are found, viability determined, developed and exploited;
b) the installations, units, equipment and processes employed; and
c) the related risks.

The contractual relationships and responsibilities during upstream, midstream and downstream operations

The development of the specialist insurance markets and products

Basic legal elements of oil and gas insurances

Underwriting considerations

The makeup of the oil & gas insurance markets and risks placements

The specialist coverages available to oil & gas companies, contractors and other parties during the various phases

WORKSHOP CONTENT

  • Overview of offshore and onshore oil & gas installations, facilities, drilling units, craft, equipment, methods & processes (seismic, drilling, fabrication, installation, production , refining, etc.) and the various risks arising during these activities.
  • An examination of typical legal and contractual obligations of the parties
  • A brief history of oil & gas insurances, its notable drivers and the current insurance needs of oil & gas companies, contractors and others.
  • An overview of the London and international insurance markets
  • An outline of the coverages offered by the markets for property, liability, drilling, pollution and financial risks.
  • How risks are placed and underwritten and the role of agents and brokers
  • Claims experiences & lessons learned