• Energy Insurance

    • Expertly-designed plans for oil and gas organisations
    • Operations - onshore/offshore, upstream/downstream, operational and construction
    • Diverse risk covers including property damage and machinery breakdown

Product Overview

For modern energy companies, a major chunk of their operations is managed entirely by self-sustaining technologies. Which means that any small technical accident can cause a lot of damage, financially, in stature, and for future operations.


With this understanding of the risks that energy companies face every day, we've designed one of the most comprehensive and cost-effective energy insurance policies in the market.


We cover onshore and offshore activities, for a global book of upstream and downstream organizations, protecting assets, units and operations.


Our protection also extends to other related risks like business interruption, liabilities, control of wells (operator's extra expenses), property damage etc.

Energy Sectors We Cover

Our plans cover the oil and gas industry across the following sectors:

Risks We Cover

  • Upstream

    Upstream risks are either onshore or offshore. The following are items insured under the scope of Upstream:

     

    • Exploration, development and production assets and activities, offshore and onshore
    • Production platforms
    • Mobile offshore drilling units
    • Floating production storage off-loading units
    • Construction activities
  • Midstream

    The midstream operations often include some elements of the upstream and downstream sectors. The midstream sector insures the following:

     

    • Terminals and tank farms
    • Liquefied Natural Gas (LNG)
    • Oil/gas separation plants
    • Pipelines
  • Downstream

    The downstream sector commonly refers to the refining of petroleum crude oil and the processing and purifying of raw natural gas. It also involves the marketing and distribution of products derived from crude oil and natural gas. This is what is insured under downstream:

     
    • Refineries
    • Petrochemicals and chemical plants
    • Gas plants
    • Fertiliser plants
  • Power
    This refers to the generation of power from all types of fuel and sustainable methods and mainly operational power generation with proven technologies under thermal (coal, gas, oil).

How to Get Insured

  • Apply by Phone

    Call us at 800 SUKOON (785666) for more information and to enrol over the phone.

  • Apply by Email

    Drop us an email with all your details and we'll get back to you soon.

  • Apply in Person

    Walk into one of our branches to get information, apply, and enrol in person.
Request a call back from one of our insurance experts.

Product Resources

FAQs

  • To be honest, we don't usually insure plastic factories. However, you can reach out to us and we can come to a decision based on your case.

  • No, any loss or damage to items that are immediately affected by the above are not covered. However, your insurance can be extended to cover any loss or damage to the correctly executed items resulting from an accident that happened because of faulty design, defective material or workmanship.

  • So, this is how it goes. You will need to estimate the maximum value of the stock that you may be holding at a particular point of time during the policy. This will be considered as the sum insured and the premium rate is charged based on this amount. 

    At the beginning of each month, you will need to declare the highest value of the stock that you were holding during the previous month. The same will be considered as the declaration for that month. At the end of the policy period, the premium is adjusted based on the average monthly declarations provided by the insured.

  • No, it's not. It totally depends on you. But we would say that it is advisable.

  • There is no fixed tariff in such cases. The rate/premium is usually decided on a case-to-case basis, depending on your building, the kind of covers you are looking for, and other factors.

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