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Beazley

Description

Beazley plc are a specialist insurer with three decades of experience in providing clients with the highest standards of underwriting and claims service worldwide. 

Beazley is the parent company of specialist insurance businesses with operations in Europe, the US, Canada, Latin America and Asia. 

Beazley’s global business is transacted through five divisions: marine; political, accident & contingency; property; reinsurance; and specialty lines. The diversity of Beazley’s portfolio and the expertise of the group’s underwriters have supported an unbroken 32 year record of profitability.

Beazley’s client base includes over 600 of the world’s foremost upstream oil and gas companies.

Energy

Beazley provide comprehensive and competitive cover to clients involved in all aspects of the energy value chain and are a prominent leader of energy business in the London market.

Energy clients range from small, regionally focused independent oil and gas companies through to larger, international, integrated energy companies. Today Beazley insure over 30% of the top 200 oil and gas companies in the world.

In addition to the physical damage and business interruption cover provided by the company's energy team, Beazley also insures energy companies for D&O, political risks, terrorism, accident and health, and construction and engineering exposures.

Upstream is Beazley's largest sub-class of energy risks. Cover protects clients against a broad spectrum of risks including physical damage, well related expense, such as control of well costs, loss of production income, and third party liabilities.

Target market

  • Independent oil and gas companies
  • Integrated energy companies
  • State oil and gas companies
  • Drilling contractors
  • Service contractors

Coverage includes

  • Indemnity to repair or replace damaged property
  • Sue and labour
  • Removal of debris expenses
  • Loss of production income
  • Control of well
  • Redrill and restoration expense
  • Pollution from wells and legal liabilities

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