Our specialization in this segment is the insurance of oil and gas industry risks.
This sector of the energy industry contains a huge number of technological processes. Each of them requires knowledge and understanding of its specifics, taking into account the further development of an individual insurance program.
In addition, there are a number of legislative norms that provide for several compulsory insurance programs for this type of enterprises. Some of these compulsory insurances can be provided only by a limited number of companies (licensed). The difficulty is also that only a few of them can provide real coverage, those who have the support of international partners in placing such kind of risks. The reason is that the amount of liability defined by the state is so great that they cannot be covered by any of the Ukrainian insurance companies. Given the above complexity – such transactions require the involvement of specialized professional independent consultants.
The main problem is that these compulsory policies only compensate for damage to third parties or the environment. In other words, this insurance, under no circumstances, does not cover the Insured’s losses.
That is why we offer our clients complex programs (analogues of western insurance products), which imply real insurance protection of the client and his property. Such insurance products are bought by all western oil and gas producers, as well as companies that operate in Ukraine, but using the western business management model, where the issue of risk management occupies a very important place.
Such programs provide both property insurance and wells control risks. After all, in this case the size of the losses is simply enormous.
Our professional experience, detailed analysis of the activities of the facilities, our contacts in the insurance and reinsurance market helps us not only to form the optimal insurance program, but also to provide support for the policy at all its stages. Taking into account the complexity of technological processes and, accordingly, the difference in risks – similar policies require constant adjustments and monitoring of production activities for compliance with current insurance coverage.
More detailed information can be found on our specialized website www.consoris-energy.com.ua