The experts used to say, “Watch out for the four “C’s” of insurance protection for the oil and gas explorer or operator — contracts, coverages, costs and claims” The contracts identify the indemnities and liabilities in exploration or oilfield agreements – these agreements are never the same; the coverages contain the nuances that set one policy apart from another; the costs include the choices that make one account more desirable to underwriters than another; and the claims hold the understanding and the presentation of the facts in order to get a fair settlement. An agent, broker or a consultant, an underwriter as well as a risk manager, would do well to approach this field of study in that order. In general, contracts and coverages go hand-in-hand but it is important to remember that all policies are not the same. Whether the difference is in the exclusions, the definitions, the endorsement wording or even openly in the insuring agreement, what may seem to be a standard policy can be totally at odds to what the broker, underwriter or the insured may had in mind.
Don’t just hide behind some Energy POOL or take a small following share (like following an one-eyed Jack) or even becoming a great pretender!Seek out I-G Training Pte Ltd…
|I-G Training Pte Ltd|
Take a course…… “Underwriting Energy Insurance – By I-G Training Pte Ltd” is highly recommended. The course specifically deals with two main topics:
- to explore offshore & onshore drilling rig operations’ associated risks exposures
- to equip participants with the insurance knowledge on offshore and onshore energy risks processes, policy wordings and underwriting technicalities
To be a professional in the energy insurance industry start with learning the problems in contracts, and in order to understand those contracts, it pays to acquire a good understanding of how the various processes are being carried out within both the offshore and the onshore environment; then concentrate on understanding the differences in coverages.
The distinguished speakers are specialists in their own field…..
Keep a date on the 6th & 7th July 2010 – Click to REGISTER! We plan to keep the class size small so that participants could interact more with the facilitator(s) to achieve effective learning. We encourage interested parties to register early. Registration can be done online at http://www.igtraining.com.sg/2010/energyins/register.htm or Email: firstname.lastname@example.org