This publication is a comprehensive study on offshore energy insurance. It provides understanding of the products that have been developed by the insurance industry to provide financial support.
Offshore energy insurance has, to a large degree, been based upon the traditional principles and practices established in the marine insurance market. However, it has, in time, evolved into a distinct brand offering products that are unique to the insurance industry and tailor-made to the energy industry.
Content
Chapter 1 History and Development of the Offshore Insurance Market 1.1.0 Background and Introduction 1.2.0 Brief History of Offshore Drilling and Production 1.3.0 Evolution of the Offshore Energy Insurance Product 1.4.0 Development of the Marine Offshore Insurance Market 1.5.0 The Petroleum Community 1.6.0 Organisation of the Energy Insurance Market 1.7.0 Offshore Insurance Law and Jurisdiction
Chapter 2 Exploration 1 – Background 2.1.0 Introduction 2.2.0 Mobile Offshore Drilling Units (MODUs or Rigs) 2.3.0 Risk Factors Associated with MODUs 2.4.0 The Drilling Operation 2.5.0 The Drilling Contract – the Daywork Contract 2.6.0 Responsibility for Loss or Damage Under Daywork Contract 2.7.0 Footage and Turnkey Contracts
Chapter 3 Exploration 2 – Insurances on Mobile Offshore Drilling Units (MODUs) 3.1.0 Introduction 3.2.0 The London Standard Drilling Barge Form (9th March, 1972) (LSDBF) 3.3.0 Adapted Conventional Hull Policy Wordings 3.4.0 The Norwegian Marine Insurance Plan of 1996 (the Norwegian Plan, or the ‘Plan’) 3.5.0 London Market Offshore Mobile Unit Form (LMOMUF) 3.6.0 Overview Summary of the Forms 3.7.0 Liabilities 3.8.0 Liability Coverage in the Conventional Market 3.9.0 Market Practice for Mobile Drilling Rigs Photo Gallery
Chapter 4 Exploration 3 – Control of Well Insurance 4.1.0 Introduction – Blowout 4.2.0 Risk Considerations 4.3.0 Evolution of the Coverage Form 4.4.0 The EED 8/86 Wording (EED) – Overview 4.5.0 EED Control of Well – Section A 4.6.0 EED Redrilling/Extra Expense (Section B) 4.7.0 EED Seepage and Pollution, Clean-up and Contamination – Section C 4.8.0 EED Form General Conditions 4.9.0 Additional Optional Coverages 4.10.0 Overview of LSW 614A (Comparison with EED) 4.11.0 Control of Well Premium Rating 4.12.0 Market Practice
Chapter 5 Offshore Construction (1) 5.1.0 Background and Introduction 5.2.0 Construction Methods and Phases 5.3.0 The Marine Warranty Surveyor (MWS) 5.4.0 Contractual Issues and Arrangements 5.5.0 Responsibility for Insurance Photo Gallery
Chapter 6 Offshore Construction (2) – Essential Principles 6.1.0 Introduction to Scope of CAR Policy 6.2.0 Assured 6.3.0 Period 6.4.0 The Insured Works 6.5.0 Valuation 6.6.0 Coverage Scope 6.7.0 Third Party Liabilities
Chapter 7 Offshore Construction 3 – The WELCAR 2001 Policyform – General Conditions and Physical Damage 7.1.0 Historic Background 7.2.0 WELCAR – Policy Construction 7.3.0 Scope 7.4.0 General Terms and Conditions 7.5.0 Section 1 – Physical Damage
Chapter 8 Offshore Construction (4) – The WELCAR 2001 Policy Form – Terms and Conditions for Section 1 8.1.0 Terms and Conditions (Section 1 only) 8.2.0 Basis of Recovery 8.3.0 Incorporated Clauses 8.4.0 Project Alterations and Amendments 8.5.0 Defective Parts 8.6.0 Additional Expenditures under Section 1 8.7.0 Maintenance 8.8.0 Other Aspects 8.9.0 Definitions for Section 1 8.10.0 Exclusions for Section 1
Chapter 9 Offshore Construction 5 WELCAR Form – Section II (Liabilities) and Marketing Practice for CAR insurance WELCAR FORM Section II (Liabilites) 9.1.0 Introduction 9.2.0 WELCAR Section II Third Party Liability – Insuring Agreement 9.3.0 Terms and Conditions for Section II 9.4.0 Exclusions 9.5.0 Coverage Buy-Backs 9.6.0 Marketing Practice for CAR Insurance Photo Gallery
Chapter 11 Operating Insurance 2 – Physical Damage Wordings 11.1.0 Introduction 11.2.0 Issues Normally Forming Part of Declarations or Schedules 11.3.0 Coverage 11.4.0 Exclusions 11.5.0 Limit of Liability (Basis of Recovery) 11.6.0 Other Clauses 11.7.0 Other Clauses Customarily Included in Manuscript Policies
Chapter 12 Operating Insurance – (A) FPSO and Contractors’ Vessels, Pipelines and Onshore Land Rigs and Equipment (B) General Market Practice 12.1.0 Introduction – FPSOs and Contractors Vessels 12.2.0 FPSOs and FSUs – War Risks Cover 12.3.0 FPSOs and FSUs – Crude Oil in Store 12.4.0 Pipeline Operating Forms 12.5.0 Land Rigs and Onshore Equipment B. General Market Practice – Operational Risks 12.6.0 Introduction Photo Gallery
Chapter 13 Business Interruption, Delay in Start-up and Loss of Hire 13.1.0 Introduction 13.2.0 Essential Principles and Practice – Business Interruption Coverage 13.3.0 Loss of Production Income Wording (Production Loss Sustained) JR 2005/003A) (LOPIW) 13.4.0 Insuring Clauses 13.5.0 Exclusions 13.6.0 Delay in Start Up (DSU) 13.7.0 DSU Underwriting Practice 13.8.0 Loss of Charter Hire and Loss of Hire
Chapter 14 Offshore Liability Risks 14.1.0 Introduction 14.2.0 Synopsis of Liability Exposures 14.3.0 Liability Policy Forms (Generically) 14.4.0 Excess Liability Claims Made Policy – LSW 244 14.5.0 Endorsement Containing Energy Exclusions – LSW 245 4 14.6.0 The LPO 418 (B) – London CGL Wording 14.7.0 Other Manuscript Policies 14.8.0 Market Practice 14.9.0 The Piper Alpha Litigation
Chapter 15 Pollution Insurance 15.1.0 Introduction and Background 15.2.0 Spillage, Clean-up and Containment 15.3.0 International Legislative and Voluntary Agreements 15.4.0 The Offshore Pollution Liability Agreement (Hereinafter Referred to as OPOL or the Agreement) 15.5.0 The Outer Continental Shelf Lands Act (OCSLA) and 1978 Amendments (the Amendments) 15.6.0 Oil Pollution Act 1990 (OPA) 15.7.0 Position in Respect of FPSOs/FSUs 15.8.0 Insurance Coverage for Pollution Risks
Chapter 16 The Mutual Entities – Oiland Ocil513 16.1.0 Introduction 16.2.0 Overview of Coverage and Limits Provided by OIL 16.3.0 Rating Formula 16.4.0 OIL Coverage – Construction of the Policy 16.5.0 Insuring Agreement 1 – Physical Damage 16.6.0 Insuring Agreement 2 – Sue and Labour, Control of Well, Removal of Debris, Restoration and Redrilling Expense 16.7.0 Insuring Agreement 3 – Seepage, Pollution and Contamination – Coverage 16.8.0 Other Main Conditions 16.9.0 OIL Coverage as Vehicle for Construction 16.10.0 Oil Casualty Insurance Limited (OCIL) Photo Gallery
Chapter 17 War, Terrorists and Political Risk 17.1.0 Introduction 17.2.0 Drilling Barges – The Institute War and Strikes Clauses – Hulls – Time 1.11. 95 (War and Strikes policy) 17.3.0 Mobile Offshore Units – Norwegian Practice under Norwegian Marine Insurance Plan (the NMIP or the Plan) 17.4.0 Fixed Offshore Facilities 17.5.0 Onshore Terrorism 17.6.0 Other Political Risk Exposures and Coverages
Chapter 18 Decommissioning and Abandonment 18.1.0 Introduction 18.2.0 International Legislative Background 18.3.0 National Enactments 18.4.0 Abandonment Options 18.5.0 Insurance Products 18.6.0 Post Abandonment Liabilities 18.7.0 Provision of Decommissioning Security
Appendix A WELCAR 2001 Appendix B Energy Exploration and Development Insurance Appendix C London Standard Platform Form Appendix D London Market Offshore Mobile Unit Form Appendix E Loss of Production Income Appendix F Excess Liability Claims Made Policy – LSW 244 Appendix G Oil and Gas Well Drilling Tools Floater Form (All Risks) Appendix H Offshore Facilities Limited Terrorist Cover, Form 2 Photograph Credits Index
Details
Title: Upstream and Offshore Energy Insurance Number of Volumes: 1 Number of Pages: 773 Product Code: 4384 ISBN: ISBN 13: 978-1-85609-351-4 (9781856093514), ISBN 10: 1-85609-351-4 (1856093514) Published Date: November 2008 Binding Format: Hardback Book Height: 250 mm Book Width: 190 mm Book Spine: 50 mm Weight: 2.40 kg Author: David Sharp
My order was filled, shipped and received within a few days. They make beautiful ways to hold my charts down while I am examining and working with them. The chartweights are attractive additions to my navigation tools. I would recommend American Nautical Services very highly.
