Insurance analysis reshapes approach to cover
Energy Edge conducted a review of insurance products against 18 possible events for an oil and gas company.
Energy Edge was engaged to review insurance products for an oil and gas company to assess if the organisation was adequately covered across multiple scenarios.
The analysis included the investigation of existing insurance and commercial arrangements specifically related to the client. Key considerations included: basis of indemnity settlement, gross profit and turnover, expenses, indemnity period, waiting periods, coverage, exclusions, premium considerations, and force majeure clauses in gas supply agreements.
Energy Edge’s commercial expertise in the oil and gas industry was then applied by running 18 different possible insurance events to assess if the products were adequate.
The thorough analysis and findings were provided to the client across several workshops and is being used to reshape and optimise their insurance.