INSURANCE MANAGEMENT OF ENERGY RISKS (OIL & GAS)

Background
Energy exploration is an important activity in the developing world and there is a tremendous demand for both offshore and onshore insurance cover right from exploration, drilling, construction and installation of production equipment to actual operations of prospecting, production, refining gas treatment, manufacturing, storage, marketing and shipment in the marine and non-marine market. The underwriters world over are cautious in writing this business since exposures are large and limits of liability are also big. Rates, terms and conditions are invariably decided by reinsuring underwriters. Capacity for this risk in the local market is limited and insurers have to resort to specialized reinsurance market for protection. This programme aims at having mutual discussions and views from the underwriters and the brokers to enable the participants to understand the intricacies of this risk while underwriting the business.

Objectives
This programme aims:

• To provide participants with an overview of oil and gas energy risks

• To bring in to focus the underwriting & claims of onshore & offshore Risks.

• To acquaint participants with principles and practice of insurance & Reinsurance of Energy Risks

Contents
• Overview of oil and gas industry & Challenges of the energy underwriters.

• Construction risk insurance in the energy field

• Underwriting & Claims issues in energy insurance

• Loss prevention and control in energy business

• Adjusters views in assessment of damages and claims handling

• P & I aspect in offshore market

• Reinsurance market & Oil pools