Best Practice in Energy Insurance Administration

  • Start Date

    21 Mar, 2023

  • End Date

    24 Mar, 2023

  • Price


  • WiFi

    Free wifi

Event Details


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





The course covers the following topics regarding energy insurance:

 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



1ST BATCH:              21st -24th Mar, 2023

2ND BATCH:             25th -28th July, 2023

3RD BATCH:             14th -17th  Nov, 2023

Other Dates

Start Date End Date
21 Mar, 2023 24 Mar, 2023
Start Date End Date
25 Jul, 2023 28 Jul, 2023
Start Date End Date
14 Nov, 2023 17 Nov, 2023
  • Venue

    Alpha Partners Professional Training Conference Centre. 200, Muritala Mohammed Way (3rd Floor), Yaba Lagos.

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