Operational activities in the energy sector are highly complex with high level of risks. From the point of view of the risk management, the characteristics of energy sector also possess high level of severity. This means each loss will bring about big financial impact. To anticipate this matter, Offshore & Onshore Energy Insurance as a solution for companies working in offshore and onshore energy sector. With the operational assets under comprehensive insurance scheme, clients are protected against risks.
*What We Insure
Section I – Onshore properties
This insurance product insures properties stated in the Coverage Overview with warranty extension including:
a. Office Contents Endorsement;
b. Riots, Strikes and Malicious Damage Endorsement 4.1a (including Civil Commotion).
Section II – Offshore Properties
This product insures offshore properties stated in the Coverage Overview with
warranty extension including: Drilling Equipment Including Rigs.
Section III – Well control insurance
This product guarantees replacement for cost and/or expenses to regain or to get control of the insured well with warranty extension including:
a. Underground Control Of Well Endorsement.
b. Making Wells Safe Endorsement.
c. Extended Redrilling and Restoration Cost Endorsement.
d. Evacuation Expenses Endorsement.
e. Care, Custody and Control
Section IV – Hull and Engine
This insurance guarantees the ship hull including engines and its equipment.
Asset insured is optional, depending on your needs.
Excluded general risks:
• War, Civil War, Sabotage And Terrorism.
• Radioactive Contamination, Chemical Biological, Bio-Chemical And Electromagnetic Weapons
• Cyber Attack.
Offshore Construction All Risks Insurance
Construction acitivities in the energy sector carry with them high complexity and severe risk level. This means each loss carries a big financial impact. Offshore Construction All Risks Insurance provides the solution to companies working in offshore energy sector. With comprehensive guarantees given to offshore construction works, clients receive protection against future risks.
What We Insure
Section I – Physical Damage
Provide all-risk insurance against physical loss and/or physical damage to the insured property provided the loss or damage is the result of an incident happening within the policy period.
Bagian II – Insurance Agreement Legal Liability
Provide indemnity to the loss suffered by the Insured due to claims for compensation from a third party that the Insured is liable to due to the following reasons:
i. Legal liability imposed on the Insured by Law, and/or
ii. Contractual legal liability, set in a written document, for any physical
injury or property damage due to a certain event, provided the event occurs within the period of