When people think about the oil and gas sector, most people think of the exploration and production processes, but we think about the multitude of companies that supply and support the energy and offshore industries. Whether you are manufacturing products that are supplied to the industry, or providing services to the industry you are working alongside complex risk exposures and standard insurance products can often not be protecting your adequately.
We work with all sorts of companies, doing all sorts of things for the industry and our long standing sector knowledge and specialist insurer relationships, mean we can craft carefully considered programmes of protection so that our clients are fully insured and their risks are fully understood.
Don’t leave it to chance, ensure that your unique risks are always managed properly, so you can keep doing what you do, without distraction.
Manufacturing any product that has applications in the offshore energy industry brings with it a certain level of complexity that we understand is synonymous with this industry type.
We insure companies that manufacture all kinds of components, tools and machinery that are used companies in the industry, and all have their own unique challenges and considerations. We take our time to understand all aspects of production and more importantly the end use of your products and the contractual liability that resides with your position in any supply chain.
Having our unique knowledge of the sector and having the insurer relationships based on this knowledge we are able to arrange the most efficient protection programmes for our clients
The digital revolution has certainly had an enormous impact on the offshore industry. Constant developments are evolving the sector rapidly and those companies who specialise in the development and deployment of these technological advancements, also need to understand the unique risks associated with working within the offshore community.
Our approach is to understand the nature of your capabilities and how they are deployed, and then understand the contractual relationship and any possible risk exposures that you might have. Once we understand these fully we have the expert relationships with specialist insurers who can work with us on protecting your business.
Any business that is involved in disturbing the sea bed is automatically into large areas of risk and complexity. We have worked with many companies on many projects to understand the individual requirements of their contracts and the specific risk areas that require careful thought.
We enjoy working with our clients, and working through usually hundreds of pages of scoping documents and then deciphering what contractual risks exist and how to then build a programme around both individual contracts and an ongoing annual insurance needs.
There is a small community of expert underwriters, often individuals, who have got the ability to work with us on these projects. We have a unrivalled access to these underwriters, who know us and trust our knowledge of the sector.
There are so many types of businesses, it is impossible to name them all and talk about them in detail. We have worked with all corners of industry, but all have needed specialist advice and often unique products and protection.
We never try to scaremonger, but there are accepted contractual practices in the offshore world, that very few insurance providers or products can work with. You can find thousands of advisors that will give you an insurance policy but the devil is always in the detail.
Unless a specialist provider has specifically written certain covers and wordings into your contract, then you could be extremely vulnerable and liable to some serious liabilities that you just need to avoid.
We are always here to offer a unique perspective on the risks you face, and to give you complete peace of mind, so you can focus on being as successful as you can be, without any distractions.
Physical assets can be a significant feature of our clients business, whether they operate from significant premises or have multiple locations, or if they have specialist and valuable tools and machinery in operation whether onsite or offsite – these assets need heavily protecting.
There are a variety of ways that these assets can be covered, and our expertise is understanding the asset profile and ensuring that we match a programme of protection that is flexible enough to allow you to operate effectively but also gives you the balance sheet protection you need.
This is probably where our specialist knowledge really comes to the fore. We regularly have our heads in our clients contracts to decipher and explore the various liabilities and their structure – this enables us to craft the right cover to ensure our clients are fully protected.
There are various wordings and specific insurance endorsements that need to be written into your insurance contract if you operate in or with the sector. Without this, standard insurance policies will exclude core aspects of cover and will leave you dramatically exposed.
Keeping you safe from serious litigation and legal action is a core component of what we do. Giving you peace of mind to focus on what you do, and we’ve got your back if you ever need it.
Whatever you do specifically, the sector usually dictates that your people need to be fairly transient and as such business travel is a key component of cover.
Having the right insurance to cover any medical situation, anywhere in the world is relatively straight forward for us as we have access to the very best travel insurers.
We tend to focus more on the support we can give you. For example, providing mobile phone apps that cover all information for any given country, emergency procedures etc will give the assistance your people need. We can also provide country specific reports for any remote project work so you and your team know what environment they are going into and procedures can be created.
Whether it’s cars, vans or larger commercial vehicles your company fleet needs careful management and control in order to keep premiums manageable.
We specialise in a risk management based approach, understanding the dynamics your drivers face including any specialist environments like quayside exposures for example.
Manage the risks, support your drivers, keep claims to a minimum frequency and we then work with our specialist insurance partners to keep costs under control for what can become a challenging area of cover.
By the nature of working in some of the more testing environments on earth, some of the equipment our clients use can be extremely valuable and specialist.
These assets are essential pieces of kit, and the way they are deployed can be extremely flexible and transient. Our knowledge of this specialist equipment, and how they can be utilised means we can put the most agile and comprehensive policies in place.
The flexibility of this cover, means that you can be confident these assets are adequately covered, whatever the circumstance.
Most people are aware of their need for public and products liability as this is a common form of protection against claims arising from damage or injury caused to people or property.
Professional Indemnity cover is less commonly understood, but depending on what you do, can be essential protection for you. It covers against any legal action brought against you should anything you do cause financial loss or damages through your negligence or an error or omission.
With the complexities involved in anyone working or dealing with the offshore industry, this cover can be critical.
There are various specialist insurance policies that are designed to cover water based risks and exposures. If you have any watercraft or if you hire any for specific jobs or projects it is crucial to get the right protections. Typical covers can include –
Hull & Machinery – protecting the physical asset itself against damage or loss.
Protection & Indemnity – this complex class, essentially deals with liabilities whilst at sea as these activities are excluded from standard liability policies.
We have good access to the specialist insurers who support us on risks of this type, but as always, our knowledge of what you have and how you are exposed means we can create a bespoke portfolio specifically for you.
The world of financial risk get ever more challenging as litigation evolves and as the creativity of criminals exposes more and more people to financial crime of various types. We have access to the very best specialist underwriters who can protect your business against the various risks that can exist. Specific policy types can include –
Directors & Officers Liability – protecting the corporate entity as well as its directors, officers and senior managers against any action brought against them in their role serving the company.
Crime & Cyber Crime – traditional crime, fraud and extortion methods have now become inextricably linked to technology meaning all businesses are now exposed to increased risk of financial loss.
Cyber Insurance & Incident Response – the newest of insurance products and is constantly evolving as our knowledge of cyber crime increases, and with it the sophistication of the criminal world. Various costs can be protected against, but the incident response cover to help you make good decisions in the critical first 48 hours of an incident is really where the value can be found.