We define energy as "energy supply, generation and delivery." We insure clients in the following industry segments: upstream and midstream. We are also involved in emerging areas of risk such as renewable energy production. For integrated companies operating in any of these segments, we can offer a mix of relevant coverages to meet the requirements of each client.
Our energy clients range from small, regionally focused independent oil and gas companies through to larger, international, integrated energy companies. Today we insure over 30% of the top 200 oil and gas companies in the world and lead 40% of our portfolio.
The Beazley difference
- We work closely with our assureds to provide significant capacity across a range of first party and third party insurance covers
- We have a specialist integrated underwriting and claims team, dedicated to providing excellent service as part of our underwriting commitment to our assureds
- Our portfolio is worldwide and our clients range from small, regionally focused independent oil and gas companies through to larger, international, integrated energy companies
- We provide competitive cover in respect of material damage and related expenses, well-related expense, loss of production income and legal liabilities
We are selective in our approach, favouring operators and firms who follow a high level of safety standards. In this way, we can offer the broadest cover and most competitive terms while maintaining our strong reputation in the market. Historically, our loss market ratios have always outperformed the Lloyd's market average.
We cater for most exposures encountered by energy companies including property physical damage and business interruption, expense coverage such as control of well and redrill costs, construction and abandonment risks, legal and contractual liabilities including general liabilities, employers liabilities, seepage and pollution, removal of debris expenses, etc. All subject to the terms and conditions of the actual policy.
To offer a quotation, we require details of the scope and nature of the assured's activities, the coverage required and a claims record.
Energy industry 360
In addition to the physical damage and business interruption cover provided by
our energy team, Beazley also insures energy companies for D&O, political risks, terrorism, accident and health, and construction and engineering exposures.
Our cover protects against a broad spectrum of risks including physical damage, loss of production income and third party liabilities.