A fascinating area of the industry is seeing the value that our many survey clients provide to the sector. There is such a wide range of survey technology, data gathering methods and an even wider range of needs that these businesses try to support – understanding the landscape has never been more complex and more scientific.
However many dimensions you are working to, we can add one more vital layer. The technology involved in all of these methods is changing rapidly, and becoming ever more sophisticated leading to enormous efficiency and productivity gains which are so vital to the sector.
Protecting our clients in this sector is complex and really brings out the best of our specialist knowledge. There are a range of risks that survey businesses are exposed to that require thorough understanding and then very expertly crafted into a bespoke protection programme.
We work with a range of clients who all principally gather geophysical data but the methods they deploy and the equipment they use to get it can differ wildly.
Whether you specialise in hydrographic, bathymetric, electromagnetic, geothermal, seismic, micro-gravity, electrical resistivity or any other very clever methods we understand what you need and we work with specialist insurers who can underwrite your specific risks.
We are not trained geophysicists, or we wouldn’t be helping you with insurance – but we do understand how to add value to your business through understanding what you do and crafting appropriate solutions that allow you to excel.
Our clients who perform the vital positional and inspection surveys provide exceptional insights in the integrity of all sorts of subsea assets.
There is a huge world of subsea infrastructure and their effective performance is of vital importance to so many companies who rely on these assets.
The type of assets can vary wildly, as does the methods of conducting detailed surveys of them or where they should be. The companies who specialise in this work have unique risk requirements which we are well versed in being able to understand and then craft bespoke solutions so they can operate freely at all times.
There is so much to learn from nature, and we love working with clients who make it their passion. Whether their focus is biological, physical or chemical we need to keep learning and we want to play our part in helping companies do that.
There is important data to be gathered from incredible technology. Mapping everything from waves behaviour to ocean mammals and climatic data is critical to the understanding of our world.
Insuring these companies, requires real specialist knowledge in itself. Complex processes and methods will always translate into complex risks to manage and mitigate. We only work with people who we know and trust to have the knowledge to support you fully.
Survey companies can and usually have significant physical assets which are always a feature of their business. However they operate them, where they are stored, how they are transported, how they are maintained – these expensive assets need 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 data you are working with, the process of getting it 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.
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 for survey companies, 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 project or location.
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 dealing with the combination of data and the offshore industry, this cover is critical for survey companies.
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.