Offshore & Renewable Energy
These exposures are particularly pertinent to vessels involved in work of a specialist nature, including offshore construction, installation and maintenance, dredging, well- intervention, and cable or pipe laying.
For example, offshore contracts regularly require owners to assume additional liabilities over and above what they would be expected to assume under common law. These additional liabilities are not covered by standard P&I insurance, and Members require additional products to manage risks they pose.
This is why we offer a tailor-made insurance solution to cover the additional risks which sits alongside and augments standard P&I Rules cover.
Who can be insured?
We cover all vessel types used in the offshore and renewable energy industries including:
· Wind Turbine Installation Vessels
· Offshore Construction Vessels
· Platform Supply Vessels (PSVs)
· AHTS Vessels
· Offshore Support Vessels (OSVs)
· Crew Transfer Vessels (CTV)
· Accommodation Units
· Well Intervention Vessels
· Cable Laying Vessels
· Dive Support Vessels
· Pipelay Barges
The Club provides a bespoke contract review service to identify where and to what extent additional cover may be required.
Additional covers available:
Extended Contractual Liability Risks:
Typical exposures encountered include:
Waiver of right to limit liability
Contractual wreck removal
Loss of or damage to Contract Works
Extended Pollution cover
Naming of parties as Co-assured and Waiving Rights of Subrogation
Cover for claims arising from specialist operations which would otherwise be excluded by standard Club Rules insurance. Such operations include dredging, blasting, pile-driving, well-intervention, cable or pipe laying, construction, installation and maintenance work, core sampling, depositing of spoil, and decommissioning.
Damage to Contract Works, CAR Deductible Buy-back
Offshore and Renewable energy contracts can require the member to assume liability for loss of or damage to the property being worked upon. This generally will relate to the deductible under a head contractors CAR policy. This is often referred to as a Deductible Buy-back. The Club can provide cover for claims arising from the negligence of the member and assumed under such contracts.
Cover for liabilities, costs and expenses arising from the operations of professional divers when you are responsible for their activities.
Mini-submarines, Diving Bells, Saturation Diving Habitats and ROVs
Cover for liabilities arising from the operation of Remotely Operated Vehicles (ROVs), mini-submarines, diving bells and other unmanned underwater vehicles.