Main Headings of Insurance:

  • Insurance for material damage
  • Loss of profit insurance indemnifies financial losses due to temporary interruption of gas or crude oil supply, following an accidental material damage to the platform.
  • Well control insurance covers the cost incurred during the attempt to control the wellbore following an “explosion”. Coverage can include the cost of re-drilling, leaks or pollution resulting in bodily injury or material damage to a third party and the costs of environmental clean up.
  • General third party liability insurance covers the insured against a claim that the insurer is legally required to pay as a result of a bodily injury or a material damage caused to a third party.
  • Environmental pollution insurance covers the insured in the event of pollution resulting in bodily injury or material damage to a third party and the costs of environmental cleanup following the pollution.
  • Workmen’s compensation insurance indemnifies the insured in the event of an accident causing injury or death of an employee during the performance of his duty.
  • P and I Insurance