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