Advanced Energy Insurance Administration Course

COURSE OBJECTIVES
The key objective of this course is to empower professionals to:
• Acquire detailed knowledge and information about energy insurance in the oil and gas industry
• Make the right decisions when opting for insurance plans for one’s organization, thus protecting the organization with the appropriate cover
• Devise, on the part of the insurer, suitable, customizable and useful insurance plans, thereby promoting insurance covers to organizations
• Review, analyze, predict and cover all possible risks offshore and onshore through insurance to avoid financial losses to the organization

COURSE OUTLINE
Broad Risks in Oil and Gas Industry
• Political risks
• Geological risks
• Price risks
• Supply and demand risks
• Cost risks

Types of Offshore Energy Risks
• Weather perils
• Marine perils
• Drilling perils
• Production perils
• Political risks

Types of Onshore Risks
• Property damage
• Boiler explosion/Machinery breakdown
• Business interruption

Risk Control Techniques
• Safety programs
• Security systems
• Fire suppression
• Construction material check
• Pre-employment screening

Benefits of Scale in Risk Management
• Diversification
• Financing
• Expertise
• Products

Risk Transfer Mechanisms
• Captives’ insurance companies
• Catastrophe bonds
• Derivatives
• Insurance
• Self-insurance

Challenges of the Energy Industry
• Dynamic business models
• Globalized environment
• Human capital management
• Climate change and environmental care
• Impact of new technology

Energy Insurance Placement in the Market
• Tender quotation
• Broker selection
• Lead underwriter selection
• Broker’s placing slip
• Line authorisation
• Closing and final signing
• Final policy wording

Adjustments by Insurance Buyers, Risk Intermediaries and Insurers
• Energy industry business requirement
• Current risk management methodologies
• Energy insurance market trading conditions

Important Aspects of an Insurance Policy
• Loss control
• Safety
• Claims management
• Financial analysis

Factors Affecting Insurance Costs in Oil and Gas
• Production level
• Operations size
• Payroll
• Storage type
• Management experience
• Resident state of operations

Various Coverage Options
• Umbrella liability
• Professional liability
• Inland marine liability

METHODOLOGY
The training methodology integrates lectures, interactive discussions, collaborative group exercises, and illustrative examples. Participants will acquire a blend of theoretical insights and hands-on practical experience, emphasizing the application of learned techniques. This approach ensures that attendees return to their professional environments equipped with both the competence and self-assurance to effectively implement the acquired skills in their responsibilities.

DATE:
1ST BATCH: 6th – 9th May,2025
2ND BATCH: 9th – 12th Sept,2025
3RD BATCH: 16th – 19th Dec,2025