INSURANCE SERVICES FOR OIL COMPANIES AND OTHER CORPORATIONS

Arrange insurance coverages that suit clients’ requirements and legal/contractual obligations.  These involve:

• working closely with risk managers and appointed brokers in order to establish the basis of the cover required.
• Contacting local insurers to obtain the best terms, conditions, and premiums
• implementing the insurance cover after obtaining approval from the client.  Covers can be tailored to accommodate pre-existing worldwide programmes, preferred reinsurance route, client’s captive, or participation in mutual insurers like O.I.L.

We have arranged many multi-billion US$ insurance policies at
premium levels exceeding millions of US$. Some of the insurance programmes that we have arranged included one or more of the following policies:

• All Risks of Physical Loss & Damage (Onshore & Offshore).
• Control of Well (Onshore & Offshore).
• Third Party Liabilities (Onshore & Offshore).
• Liability coverage required by service companies and contractors.
• Construction All Risks Covers.
• Business Interruption.
• Small policies: motor vehicle covers, personal accident, office buildings and contents, etc.

• Full administration of the designed insurance programme by following up with all parties concerned, providing updated information, liaising with client's insurance experts at head office and finance people at branch office, also responding to any insurance related queries from principal or joint venture partners or others, and assisting in other insurance related matters.


• Full claim management services, starting from notification of incidents, gathering information from concerned departments, establishing estimated amount of loss, working closely with the appointed loss adjusters and responding to their queries, and negotiating claims until fully settled.  These services are usually carried in full coordination with risk managers at the head office of the client.

• Full review and assessment of insurance programmes, by assessing existing arrangements and recommending improvements or re-structuring (limits of indemnity, deductibles and other options) where needed.

• Implementing the insurance tendering process, locally and internationally, for the selection of insurance companies and brokers.