What we offer
- Indemnity to repair or replace damaged property
- Sue and labour
- Removal of debris expenses
- Loss of production income
- Control of well
- Redrill and restoration expense
- Pollution from wells and legal liabilities
Up to US $150,000,000 per platform normal maximum line
To offer a quotation, we require details of the scope and nature of the assured's activities, the coverage required and a claims record.
How can we help
Upstream is our largest sub-class of energy risks. Our cover protects clients against a broad spectrum of risks including physical damage, well related expense, such as control of well costs, loss of production income, and third party liabilities. We use our wealth of knowledge and expertise (over 70 years), to form longstanding relationships with brokers and clients around the world.
We have an experienced, expert claims team with over 100 years’ experience, that is recognised as a market leader in handling energy claims worldwide.
Dependable, high quality claims service has been at the heart of Beazley’s business since being founded in 1986.
We focus on five areas that we know matter greatly to brokers and clients:
In each of these areas we aim to provide a service that will exceed our clients’ expectations and endorse the brokers good judgement in having recommended Beazley to their clients.
Who we can help
- Independent oil and gas companies
- Integrated energy companies
- State oil and gas companies
- Drilling contractors
- Service contractors
Where Is This Offered?
- North America
- South America
- North Sea
- Other Europe
- Middle East
The Beazley Difference
Freedom lies in being bold. We dare to be different and seek bold possibilities to create more innovative, fair and satisfying outcomes for our clients, brokers and employees. From insuring the highest building in the world, to the first commercial lunar vehicle to operate on the moon - we boldly go where others won’t.
STRIVING FOR BETTER
Good is a start, but we go all-out for better. A driven community of individuals relentlessly push the needle and creating value. From launching the market’s first dedicated ESG syndicate to the establishment of our business unit focusing on designing digital insurance solutions, we pride ourselves on always going above and beyond. Simply put, at Beazley we go to 11.
DOING THE RIGHT THING
Acting with integrity in a straightforward, decent way is instinctive. Open and honest with others, we show respect and empathy however challenging the situation – demonstrated by our multi-award winning claims team. Doing the right thing makes for a fair-minded, rewarding environment and makes work and life better for all.
Examples or Scenarios
An oil and gas company experiences a well blow out during drilling operations. The priority is to implement the blowout contingency plan to respond to the incident and ensure all personnel are safe. If the operator has control of well insurance they will know they have cover for the costs associated with regaining control of the well, cleaning up pollution as well as getting the well back in working order. Once we are notified of a control of well claim we work with our Insureds, their broker and the appointed loss adjusters to establish the chain of events, the extent of the covered loss and appoint the costs as quickly and efficiently as possible.