Over the past decade the oil and gas industry has experienced unprecedented highs and lows and the uncertainty in oil price looks set to continue with projected weakening economic growth, the intensifying of trade tensions and growing global political unrest. We have been insuring oil and gas companies since 2003, providing comprehensive and competitive cover to help our clients mitigate their risks as best we can in this ever changing environment.
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.
Our energy clients range from small, regionally focused independent oil and gas companies, international as well as national oil and gas companies and offshore drilling contractors.
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
- We have a team of 5 underwriters who are empowered to make decisions and have the experience and knowledge to lead business enabling us to tailor coverage as best we can to meet our clients needs.
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.
In addition to the physical damage and business interruption cover provided byEnergy industry 360
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.