Energy, Aviation & Marine Insurance

- Marine Insurance

Here is insurance to avoid or minimize uncertainty in financial affairs. For shipowner insurance exists to confine to the financial consequences of damage to its own ship, death or injury to people or third party.

Generally there are two types of marine insurance:
1. Hull and Machinery
2. Protection and Indemnity

Hull and Machinery Insurance (H&M)
This kind of Insurance covers the ship itself as well as equipment onboard the ship, includes the propulsion and auxiliary machinery, cargo handling and navigation equipment.
Also this kind of Insurance can provide cover for ship’s contribution to general average and salvage and part of the liability for damage to another ship in collision.

- Offshore and Onshore Energy Insurance
Energy Insurance Coverages are providing for upstream, midstream and downstream operations and assets:
Upstream Industries:
1- Assets and operations of exploration, development and production(offshore and onshore)
2- Production platforms
3- Mobile offshore drilling units
4- Floating production storage off-loading units
5- Offshore construction activities

Midstream Industries:
1- Transportation by pipeline or vessel
2- Gathering, separation and storage of crude oil and products

Downstream Industries:
1- Refineries
2- Petrochemicals and chemical plants
3- Gas works
4- Terminals and tank farms
5- Underground storage
6- Chemical fertilizer plants

Insurance coverage for these assets and operations includes:
- Onshore property, including equipment coverage
- Offshore property, including rig physical damage and offshore construction
- Construction coverage for onshore energy projects consists of Erection All Risk, Contractors’ All Risk, Machinery’s Breakdown and …
- Business interruption
- Control of well/operators extra expense costs/re-drill/ pollution
- Comprehensive General liability
- Hull and machinery for wellhead equipments
- Engineering coverage of construction, commission and operation of Power plants (Gas, Combined Cycle, wind farms and solar
- Package options, including:
- Boiler and machinery
- Cargo in transit
- Project Cargo
- Contractors equipment
- Extra expense
- Third party liability