We love to marvel at these feats of engineering. We’ve seen and insured thousands of pieces of specialist maritime and subsea equipment used to support the energy sector, doing all sorts of interesting things. Whether on the surface or under it, or whether used onshore or offshore this is highly specialist equipment that requires a high level of understanding in order to create the right level of protection.
We understand the risks associated with this equipment, and the practical issues that surround it’s operation from the environment they operate it, to the contractual relationship they may or may not be subject to. Trust in the experts, because this equipment is too important and too valuable to find out the hard way that it wasn’t properly protected.
However large or small, and whatever they are designed to undertake, we take the time to understand how important this equipment is to your business, and how to protect you from financial or operational loss.
From the contractual relationship to you, we understand the process of operation and all associated areas of risk that require protection.
Flying them might be the fun bit, but we understand the levels of maintenance and expertise required to keep this fantastic technology operational in the incredible environments they work in.
We protect the equipment and everything else involved in these expensive assets.
There has been a rapid rise of automated and unmanned technology in subsea and surface equipment and this will only continue.
Whilst certain insurers still struggle with the concept of automated vehicles and process, our specialist relationships understand the value that automation brings and how to mitigate the risks associated with it.
Nothing fazes us or our partners, we welcome the technology and have the ability to protect your business when using this equipment.
There are various instruments being used for technical purposes. Whatever the method of survey, Oceanographic, Geophysical etc, the actual survey equipment is rapidly changing in style but this equipment is and will remain a fundamental part of offshore industry and will always be expensive assets that need very careful insurance protection.
The role of acoustic technology is becoming ever more relevant. From the mapping and monitoring of impacts on marine wildlife of various commercial activities, to the age-old security surveillance of our waters. Technology is evolving and protecting this equipment is of vital importance. Don’t leave it to chance, trust in the experts.
The specialist diving equipment from helmets and personal equipment to saturation dive bells and hyperbaric chambers perform such a key role and are significant assets that need understanding fully in order to achieve the right levels of specialist protection.
They are literally saving and preserving lives that play an essential role in the maintenance of various offshore assets. These aren’t pieces of equipment that are easily replaced or commissioned so a lot of thought and planning are required to ensure they are protected properly.
If you have these assets solely for your own business use, then we just need to understand how you work with them, and then build a flexible policy that fits around what you do and where you do it.
We have clients that hire their equipment out to third parties and we play an important role in that arrangement in ensuring that the contracts are clear in terms of responsibility and also the processes surrounding items going out and coming back in are thorough enough. That allows us to then control how we build a policy that covers all eventualities but doesn’t cost the earth – as it can do without the processes and controls in place. This is essentially then a “contingency” style cover, but that needs the right partner with the right knowledge.
Clients that hire in a lot of equipment, also have a similar number of considerations but in reverse. These policies need large amounts of flexibility so that the administration of insurance doesn’t become a burden. But also retaining control on costs and ensuring that you are not over paying for cover you don’t need when you don’t need it. It’s a fine line we walk many times for many clients.
Most importantly we have the support of the handful of genuinely specialist underwriters who work with us to create the right solution for you. We avoid the pitfalls, and design something which can become a long term relationship which works really well, as then between ourselves, our underwriting partner and you we create a fluid working relationship that allows you to be as effective as you can be.