Energy & Property

Ever since the Group’s formation in 1987, UIB has focused on energy and natural resources as a core area of expertise. Knowing that technology and expertise drive the industry, UIB has recruited the most experienced specialists available to excel in this field.

To reflect the underlying insurance and reinsurance markets serving the energy industry, UIB’s Energy Practice is divided into two teams:

– Upstream: which covers exploration, production, transport & distribution; and

– Downstream: which concentrates on refining, processing and distribution.

The company continues to focus on energy opportunities by developing its resources internally and drawing on outside expertise, where needed, on a project basis. The energy team with its diverse skills is able to deal with client enquiries on numerous levels and regardless of geographical location. Representing diverse cultural backgrounds, we are able to handle client issues with greater personal involvement and attention. Our long experience through various insurance cycles allows the team to complete the placing of challenging risks even in a difficult “hard” market. We recognize that gathering critical risk information, presenting the submission thoroughly and correctly to underwriters and tapping the right markets are key to our success.

The Upstream Energy Team handles all Offshore Energy business (e.g. exploration, production and transportation of natural resources).

In common with other specialist areas in UIB, the Upstream team draws on many years of experience and combined expertise. In addition to knowledge of the industry, the team also has a significant linguistic ability with more than10 languages spoken fluently within the Group. We believe this ability helps us accelerate information flow, avoid technical misunderstandings and enhance relationships all of which serves us well in our efforts to provide top quality service to our global clientele.

Insurance classes provided:

  • Operating Risks (Exploration & Production Insurance for natural resources)
  • Construction Risks
  • Control of Well
  • Liabilities

Types of coverages provided include:

  • Physical Damage to Onshore/Offshore drilling units
  • Control of Well Underground Blowout/Redrill/Seepage & Pollution
  • Liabilities (First & Third Party Damages)
  • Business Interruption
  • Down-Hole Equipment
  • Construction All Risks (CAR) as respects all upstream related installations, vessels, plant and equipment (e.g. Platforms, Drilling Rigs, F.P.S.O’s, Pipelines, Cables, Sub-Sea Completions and Power Barges).
  • Marine Cargo.

Most of the risks handled by the Upstream Team are complex and often require physical condition surveys before they can be insured. Coverages are often combined into package deals. Therefore, each insurance package we provide is tailor-made to suit the individual client depending on their appetite for retention as well as the size and nature of the risk.

The Downstream Energy Team has considerable experience in dealing with risks located all over the globe, recognizing also that energy sector investments in politically sensitive and often difficult territories are accelerating. UIB continues to develop expertise to handle risks in these areas.

Over time, UIB has gained an excellent reputation for finding energy insurance capacity for those sensitive areas as well as the mainstream territories. As the value of most downstream energy plants and related facilities measure in the billions of dollars, this is a great achievement.

The UIB Downstream Energy Team is well positioned to provide comprehensive broking and/or consultancy services through placing a multitude of risks.

The Downstream Energy team provides operating risk programmes for:

  • Refineries/Hydrocarbon process facilities
  • Petrochemical plants
  • Pipelines
  • Storage facilities/terminals
  • Power and Utility plants
  • Hydroelectric risks
  • Renewable Energy Sources
  • Mining Operations

The coverages we provide include (but are not limited to):

  • All Risks Property Insurance
  • Sabotage and Terrorism
  • Machinery Breakdown/Electrical Breakdown
  • Business Interruption/Contingent Business Interruption
  • Marine Cargo Insurance covering storage and transportation of raw materials and product.
  • Construction All Risks Insurance, including transportation of machinery& equipment and Delay in. Start-Up (DSU) insurance covering loss of production income.
  • Port Risks

Our specialist Energy Brokers are backed up by very experienced technical staff, specialists from our Claims Division and UIB’s in-house energy- and petrochemical risk engineers. Our risk engineers operate under the ERC banner. Engineering Risk Consultants (ERC) is a wholly owned subsidiary of UIB Group.

We provide an integrated service in the most cost-effective way for our clients.

Whilst operating on a global footing, the main geographic areas in which we engage are Europe, the Middle East and North Africa.

Over the years, UIB has developed a unique reputation for its ability to assist in countries usually closed to foreign investment in general and industrial western investors in particular.

Property

The UIB Property Team is staffed by dedicated professionals who handle every class of property insurance, from both a physical damage and a loss of revenue perspective.

The Property Team utilizes their extensive expertise to create bespoke, client specific placement structures, be they on a Full Value basis, Primary or Excess of Loss format, to suit the particular risk appetite and budgetary requirements of the Insured.

The scale and diversity of property projects often require an insurance broker with global capabilities. UIB, with an international network of offices and strong relationships with insurers worldwide, draws on many years of experience to address complex risk issues and develop comprehensive and cost-effective risk management and insurance solutions.

BUSINESS AREAS

At UIB’s Property Practice, we specialise in designing, negotiating and arranging bespoke insurance programmes for clients in every industry sector. The UIB Property Practice handles:

  • Airports – terminals and support property
  • Commercial – hotels, shopping malls & supermarkets
  • Recreational – leisure complexes
  • Manufacturing – automotive, white goods, plastics etc
  • Municipal property – public housing, museums, libraries and convention centres
  • Religious institutions – places of worship
  • Ports & Shipyards
  • Technology based industries, incl. telecommunications
  • Medical – hospitals, clinics
  • Breweries
  • Heavy industry & process industry:- Pulp & Paper- Steel Mills- Aliminium Plants- Chemical Plants- Plastics- Cement
  • Educational, shools, colleges, universities
  • Railways

 

EXAMPLES OF COVERAGE PLACED

UIB has developed innovative risks solutions for property risks throughout the world, including bespoke wordings offering “All Risks” operational insurance – with extended cover to include:

  • Property in the Course of Construction/Minor Works
  • Removal of Debris
  • Expediting Expenses
  • Machinery/Electrical Breakdown
  • Boiler explosion
  • Business Interruption / Contingent Business Interruption
  • Seepage & Pollution
  • Transit/storage or separate “stock through-put”
  • Difference in Conditions / Difference in Limit
  • Deductible Buy Back

Our specialist Property Brokers are backed up by very experienced technical staff, specialists from our Claims Division and UIB’s in-house risk engineers operating under the ERC banner. Engineering Risk Consultants (ERC) is a wholly owned subsidiary of UIB Group.

We provide an integrated service in the most cost-effective way for our clients.

Whilst serving clients globally, the main geographic areas in which we operate are Europe, the Middle East and North Africa.

Over the years, UIB has developed a unique reputation for its ability to assist in countries usually closed to foreign investment in general and industrial western investors in particular