OIL & GAS
OIL & GAS
The contracts and insurance for the oil and gas industry are very unique and complex to understand; let alone underwrite.
Very few local Insurers/Underwriters know the industry and/or the Standard Oil and Gas Contract Provisions enough to be able to quote and underwrite the clients' requirements adequately.
While the major upstream and exploration insurance like the Energy Exploration and Development Insurance, WELCAR 2001 Offshore Construction Project Policy and Institute Clauses for Builders Risks are arranged overseas by the big players and thus out of our reach and scope, there are ample enquiries for downstream contract obligations, which can be competitively and adequately arranged by Insurers in Malaysia.
Fortunately, we have some experience in dealing with such contracts and insurance.
Due to our understanding of Oil and Gas insurance requirements and having attended the necessary training, we have arranged Comprehensive General Liability Insurance with high Accidental Pollution limits; complete with CCC buyback and also Standalone Excess Liability for our client.