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