Energy Insurance Programme Design, Claims and Loss Control Training Course

Programme Summary

Energy insurance, covering how oil, gas and power assets are insured, placed and claimed on, is the subject of this five-day training course for risk, finance, legal and project managers, ending in an insurance programme review for one asset portfolio. Energy assets carry high values and complex exposures, and cover that does not match them leaves gaps that surface only after a loss. The programme moves from risk transfer principles, through cover classes, to programme design and claims, then applies them to one portfolio. Mars Training Centre UK delivers this energy insurance programme for managers who buy or manage cover.

The Business Case

When insurance is bought as a yearly renewal exercise, energy companies carry retentions they never priced, discover exclusions after a loss and lose time and recovery in poorly prepared claims. Managers who can read policy wording, match cover to asset exposures and run a claim with disciplined records can protect balance sheets and project schedules. They also give underwriters a clearer picture of risk, which supports better terms.

• Cover Fit: Improves as policy wording is tested against the exposures of each asset.
• Retained Loss: Becomes visible and priced as retentions and limits are set deliberately.
• Claim Recovery: Rises as notification, documentation and loss records follow a planned process.

Principles and Evidence Base

• Risk retention versus risk transfer: It frames the choice between self-funding and insuring each exposure in Sessions 1 and 3.
• The indemnity principle: It governs how losses and interruption are measured and recovered in Sessions 2 and 4.
• Utmost good faith: It shapes the disclosure content of the underwriting submission built in Session 3.
• Loss control: It links engineering recommendations to cover terms and claim outcomes in Session 4.

Intended Participants

• Risk managers who place and renew property, liability and project cover for energy assets.
• Finance leaders who set retentions, budget premiums and forecast recoveries.
• Legal advisers who review policy wording, contract indemnities and exclusions.
• Project managers who must align cover with construction and commissioning phases.

The programme serves oil and gas operators, power generators, renewable developers and engineering contractors, where several functions must agree one insurance position.

Learning Outcomes

1. Participants will be able to map the exposures of oil, gas and power assets and classify which can be insured.
2. Participants will be able to compare property, business interruption, construction, liability, well control and political risk cover.
3. Participants will be able to evaluate policy wording for exclusions, sublimits and conditions.
4. Participants will be able to construct a retention and limit structure for an asset portfolio.
5. Participants will be able to prepare a claim notification and supporting records for a loss event.
6. Participants will be able to justify an insurance programme recommendation to an executive committee.

Programme Structure

Day 1: Energy Insurance Principles and Risk Landscape

Which risks do energy assets carry, and which should be transferred?

• Energy Value Chain Risk Map
• Retention Versus Transfer Decision Rule
• Indemnity and Utmost Good Faith Rules
• Insurer, Broker and Reinsurer Roles
• Insurable Exposure Register

Day 2: Cover Classes and Policy Wording

What does each class of cover pay for, and what does it leave out?

• Property Damage Cover Review
• Business Interruption Indemnity Calculation
• Construction and Delivery Cover
• Liability and Well Control Cover
• Political Risk Cover Features

Day 3: Programme Design and Placement

How is a programme structured, placed and tested for gaps?

• Retention and Limit Setting Matrix
• Layering and Co-Insurance Structure
• Underwriting Submission Content Guide
• Exclusion and Sublimit Gap Review
• Captive and Deductible Options

Day 4: Claims and Loss Control

How is a claim made and recovered, and how are losses reduced?

• Claim Notification Timeline
• Loss Adjustment Proof Documents
• Interruption Claim Worksheet
• Survey Recommendation Tracker
• Subrogation and Recovery Steps

Day 5: Applying Energy Insurance to One Asset Portfolio

Is the insurance position ready for an executive committee?

• Applying the Session 1 Risk Map to the Portfolio
• Reviewing Session 2 Cover Against Asset Exposures
• Testing Session 3 Retentions and Limits
• Planning a Session 4 Claim Response
• Completing the Insurance Programme Review

Methodology

The programme uses a case exercise built on anonymised asset schedules, policy wording extracts, loss scenarios and claim files from oil, gas and power operators. Participants work in small teams as risk manager, finance lead and legal adviser, test cover against each scenario, argue over retentions and record which assumptions would change the recommendation.

• Suggested activity: Calculating an interruption indemnity for a processing unit outage.
• Suggested activity: Reviewing a policy extract for exclusions that affect a drilling campaign.
• Suggested activity: Defending a retention and limit proposal to a panel acting as a board.

Capstone Output

Each participant completes an insurance programme review for one asset portfolio. It holds an exposure map, a cover comparison, a gap list, a retention and limit proposal and a claim response plan. The review is used to brief an executive committee, prepare for renewal discussions with brokers and underwriters, and guide the first days after a loss.

Frequently Asked Questions

Is energy insurance suitable for managers who are not insurance specialists?

Yes. Energy insurance is taught for risk, finance, legal and project managers who buy or manage cover, assuming familiarity with energy operations but no insurance background.

Which principles does energy insurance rest on in this training?

Energy insurance here rests on risk retention versus transfer, the indemnity principle, utmost good faith and loss control, applied to oil, gas and power cases.

How is the review from energy insurance used at work?

You use the insurance programme review to brief executives, prepare renewal discussions with brokers and underwriters, and guide your response to a loss.

How does energy insurance differ from a corporate risk management programme?

Energy insurance centres on transferring and recovering asset losses through policies, while a corporate risk management programme centres on identifying, rating and treating risks across the whole business.