Few industries concentrate value and hazard like oil and gas. A single event — a blowout, an explosion at a refinery — can run to enormous sums. Energy insurance is a specialised, layered discipline built to carry exactly that scale of risk.
What oil & gas insurance is
Oil & gas (energy) insurance provides specialised cover across theupstream(exploration and production),midstream(transport and storage) anddownstream(refining and petrochemicals) segments — against catastrophic property, liability and environmental exposures.
Why it is a specialised class
The combination ofvery high values, catastrophic loss potential, complex contractual structures and global operationsmeans energy risks are placed in specialist markets and structured in layers supported by reinsurance.
The main covers
Operating property / all-risk
Plant, refineries, rigs and facilities against physical damage.
Control of Well
Blowout control, redrilling, and seepage & pollution — the core upstream cover.
Construction (CAR/EAR + DSU)
New facilities and expansions during build.
Liability
Public, product and environmental liability.
Control of Well — the upstream essential
Downstream refining & petrochemicals
Downstream facilities carry enormous property values and fire/explosion and machinery-breakdown exposure, withbusiness interruptionoften the largest single element of the programme given the revenue at stake when a unit goes down.
Liability & environmental
The sector needs robustthird-party liability, sudden-and-accidental pollution and environmental-impairment cover, reflecting both the physical hazard and the regulatory and community exposure of energy operations.
Who needs it
Exploration and production companies, refiners and petrochemical operators, pipeline and storage operators, oilfield-service companies, and the EPC contractors that build energy infrastructure.
What it does not cover
Typical Exclusions
- •war and nuclear risks;
- •gradual pollution, unless environmental-impairment cover is arranged;
- •wear and tear and gradual deterioration;
- •losses outside agreed operational or geographical limits.
How Aurevian helps
Aurevian helps youstructure layered property, control-of-well, construction and liability programmes, access specialist and reinsurance markets, and manage complex claims— matching cover to a class where scale and wording are everything.
“In energy, the question is never whether a loss would be large — it is whether your programme was built to absorb it.”
