Working on an Oil Rig - Insurance

geri33

Hi there, I'd be grateful if anyone could comment on this if they have any experience of getting this type of insurance, where from or an average cost. My OH isn't sure how long he will be working on it but will be there for a couple of weeks on and then home and back out there again.

Many thanks.

Oscar_The_Grouch

Hi there

You haven't actually said what type of insurance you want.

If it's cover for the oil rig itself, Lloyd's of London specialise in this sort of thing, so speak to a Lloyd's broker to get them to arrange the policy.

If you are looking for cover for OH possessions on the rig, speak to your home insurers and ask for "personal possessions" or "away from home" cover. This will insure "things that you wear or carry in everyday life" for up to £1,000 per item and ususally £3 - 5 K in total, depending on the insurer.

If you are looking for accident insurance or life cover, speak to the HR department of the company OH is going to work for. Ask them for details of who arranges their insurance and then phone that company. They will probably be willing to provide you with assistance, on the basis that they may already have schemes in place for workers on rigs.

Hope this covers everything and sorry for the quip about insuring the rig but as you didn't mention the type of cover I felt it best to cover all bases!!

mattymoo

There is also contractors liability insurance (my specialism). Is your OH self employed or an employee?

A lot of this insurance is placed in the Lloyds market where I work. Most of the major insurers tend to avoid this type of business.

Oscar_The_Grouch

Good advice mattymoo.

I think this is a case for a specialist broker to look at and for Lloyd's to take the risk.

By the way, you missed the apostrophe in "Lloyd's". Please go in to work on Monday and sack yourself for gross misconduct!! I fired myself 3 times last week for the same offence!!

dacouch

The only problem with relying on "Personal Possession" cover is a) That it will not cover items that you would not be expected to carry about your person eg you Plasma TV etc b) If the rig is outside UK territorial waters (12 nautical miles or 22 KM) then it will be classed as outside the UK. If this is the case then most Insurers only cover Personal Possessions outside the UK for a total of 60 days a year (Some will say outside Europe).

There is a small chance the Insurers may cover it under the "Contents Temporarily Removed" Section. Either way it would be best for you to check with your Insurers (As always take the persons full name and date/time).

Also bear in mind that some policies contain a specific exclusion for Offshore eg Oil / Gas Rigs

If you want to ensure you have cover for contents / personal possession cover while he is on the rig try Everard Insurance Brokers 01322 394500 (Last contacts I had for them were Emman Anderson or Tanya Meaney but that was some time ago). They offer cover for seamen which I would have though would include rig workers.

If they cannot offer cover ask them if they know anyone or alternatively get your OH to ask around the rig to see if anyone else has cover and who with.

I hope this helps.