Offshore Construction project

Summary

Offshore Business Interruption (loss of production income) insures energy and energy-related businesses against loss due to a temporary interruption in the oil/gas supply from an offshore facility as a result of a physical loss or damage to the offshore facility.

Offshore Physical Damage Insurance covers “all risks” physical loss or damage to fixed offshore drilling, production and accommodation facilities.

  • Risk Covered
    • Physical loss or damage to contract works.
    • Temporary works.
    • Third Party liabilities arising from operations.
  • Key Benefits
    • The coverage includes builder’s risks and cargo coverage, sue and labour, removal of wreck and debris for a separate limit, existing property, expediting expenses, war, (subject to waterborne agreement) and maintenance period.

  • Information Required
    • Infrastructure Details
    • Surrounding Areas
    • Back Up Contingency Plans
    • Supervising Engineers
    • Legal Permits/Energy Deals with foreign countries etc

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