Programme overview
Introduction:
Energy and power insurance for upstream, downstream, power plants and renewables is the subject of this 1-week course for energy underwriters, brokers, risk engineers, loss adjusters and operator insurance managers, ending with an Energy Insurance Programme and Placement Plan for a case energy organisation. Blowouts, refinery explosions, turbine failures and battery fires produce losses that exceed capacity, test deductibles and expose gaps between upstream, downstream and power wordings. Nominees already handle energy risks, and teaching is by case study on survey reports, loss estimates and major loss files. CoreConcept Training Center delivers this energy and power insurance course.
Course Objectives:
- Classify upstream, midstream, downstream, power and renewable exposures and route each to the energy package, operators extra expense, onshore property or machinery breakdown wording
- Specify control of well, redrilling and seepage and pollution limits for drilling and producing wells, onshore and offshore
- Assess refinery, petrochemical and gas processing risks from energy risk engineering surveys and set PML, EML and MFL values for line size
- Structure power generation cover for gas turbines, steam turbines, generators and transformers, including loss of profits following machinery breakdown
- Design solar, wind and battery energy storage covers with serial loss, defect and thermal runaway provisions
- Build an energy insurance programme with deductibles, BI waiting periods, market capacity and placement strategy tested against major loss scenarios
Target Audience:
- Energy underwriting staff who accept upstream, refining, petrochemical, power and renewable risks within delegated authority
- Energy broking staff who prepare submissions, negotiate wordings and place capacity for operators and power producers
- Risk engineering staff who survey wells, process plants, power stations and renewable sites and write loss estimates
- Loss adjusting and claims staff who handle well control, explosion, machinery and battery fire losses
- Insurance and risk staff at oil and gas operators, refiners, utilities and renewable developers who buy and renew energy cover
Course Outline:
Day 1: Energy Insurance Class Structure and Exposure Mapping
- Energy Value Chain Exposure Map From Wellhead to Grid
- Upstream, Midstream and Downstream Insurable Interest and Asset Registers
- Energy Package Policy Sections for Offshore Platforms and Pipelines
- Onshore Energy Property Wording Versus Standard Industrial Property Forms
- Current-State Gap Review of an Operator's Energy Schedule
Day 2: Upstream Covers and Operators Extra Expense
- Operators Extra Expense Wording for Control of Well Costs
- Redrilling and Extra Expense Limits for Producing and Drilling Wells
- Seepage, Pollution and Clean-Up Cover Following a Blowout
- Well Kick, Blowout Preventer Failure and Relief Well Scenarios
- Joint Venture Partner Shares, Combined Single Limits and Well Schedules
Day 3: Downstream Process Plant and Power Generation Underwriting
- Energy Risk Engineering Survey for Refining and Petrochemical Units
- PML, EML and MFL Estimates for Vapour Cloud Explosions
- Downstream BI Waiting Periods in Days and Indemnity Periods
- Machinery Breakdown Cover for Gas Turbines, Generators and Transformers
- Loss of Profits Following Machinery Breakdown and Spare Parts Strategy
Day 4: Renewables, Deductibles, Market Capacity and Difficult Losses
- Solar PV and Wind Farm Operational Cover With Serial Loss
- Battery Energy Storage Thermal Runaway Hazards and Underwriting Conditions
- Deductible Design Using Loss History and Retention Appetite
- Energy Market Capacity, Layering, Coinsurance and Reinsurance Support
- Major Energy Loss Lessons From Blowouts, Explosions and Turbine Failures
Day 5: Case Study Work and the Energy Insurance Programme and Placement Plan
- Case Offshore Field Control of Well Limit Setting
- Case Refinery Survey Findings Converted to EML and BI Terms
- Case Hybrid Solar and BESS Site Cover Specification
- Placement Submission Pack and Capacity Approach for the Case Organisation
- Energy Insurance Programme and Placement Plan Completion and Peer Challenge
Skills You Will Gain:
- Energy Exposure Mapping
- Well Control Cover Specification
- Process Plant Loss Estimation
- Rotating Machinery Underwriting
- Renewable Asset Risk Assessment
- Energy Deductible Structuring
- Capacity and Layering Strategy
- Major Loss File Analysis
Why Attend This Course:
- Deliver an Energy Insurance Programme and Placement Plan to the head of energy underwriting, the broking lead or the operator's insurance manager
- Decide control of well limits, EML-based line sizes and BI waiting periods from survey evidence rather than prior-year terms
- Avoid uninsured well control costs, underestimated explosion losses and battery fire disputes that follow wording gaps
- Equip colleagues with the exposure map, EML worksheet and capacity layering template used during the case studies
Conclusion:
Back at work, the participant presents the Energy Insurance Programme and Placement Plan to the head of energy underwriting, the broking lead or the operator's insurance manager. They use it to agree control of well limits, process plant loss estimates, machinery breakdown and renewable terms, deductibles and the capacity approach for the next renewal. After the first placement or major loss, the unit should compare estimated and actual losses, capacity obtained and deductible performance against the plan, then recalibrate its survey and EML assumptions.
Frequently Asked Questions (FAQ):
What should participants know before an energy and power insurance course?
Participants should already underwrite, place, survey, adjust or buy insurance for energy assets. Bringing an anonymised survey report, well schedule, loss estimate or major loss file helps the case studies reflect real portfolios.
How does an energy and power insurance course differ from a general property and business interruption insurance course?
It concentrates on energy assets: wells, offshore platforms, process plants, power stations and renewable sites, with operators extra expense, vapour cloud explosion estimates, rotating machinery and battery storage covers. General property courses address warehouses, factories and commercial buildings without these energy-specific wordings.
Why is control of well cover central to energy and power insurance for upstream operators?
A blowout can cost far more than the damaged rig or platform. Control of well cover pays to regain control, redrill the well and clean up seepage and pollution, so its limits drive an operator's largest single exposure.
What do participants take back from the energy and power insurance course?
Participants take back an Energy Insurance Programme and Placement Plan for a case energy organisation, with an exposure map, control of well limit worksheet, EML calculation, renewable cover checklist and capacity layering template.