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Live Online Training Schedules

OG3803 May - 07 May, 2021Live Online$2150Register
OG3802 Aug - 06 Aug, 2021Live Online$2150Register
OG3801 Nov - 05 Nov, 2021Live Online$2150Register

Classroom Training Schedules

OG3825 Apr - 06 May, 2021Dubai$6750Register
OG3826 Jul - 30 Jul, 2021Lisbon$5695Register
OG3815 Nov - 19 Nov, 2021Amsterdam$5695Register

Did you know you can also choose your own preffered dates & location? Customise Schedule

Course Overview

Energy insurance is an important subject of the oil and gas industry and receives focused attention in strategic organisational plans. This insurance could be upstream/offshore energy insurance and downstream/onshore energy insurance.

Upstream/offshore energy insurance includes cover for property, third-party liabilities and business interruption to national oil organisations, drilling contractors and independent operators.

Downstream/onshore energy insurance covers businesses in terms of power generation, renewable energy, electricity supply, oil refining, physical damage to property, etc.

All parties, including insurance buyers, risk intermediaries and insurers, need to keep adjusting to significant changes in business environments.

This Zoe training course will empower you with a complete overview of energy insurance. The knowledge and experience gained will help you undertake any role in any sector of energy insurance.

The understanding and confidence acquired through this course will help you make sound decisions on behalf of one’s organisation, thus promoting your skill in the organisation and inviting further opportunities for career growth.

Course Objectives

The key objective of this course is to empower professionals to—

  • acquire detailed knowledge and information about energy insurance in the oil and gas industry
  • make the right decisions when opting for insurance plans for one’s organisation, thus protecting the organisation with the appropriate cover
  • devise, on the part of the insurer, suitable, customisable and useful insurance plans, thereby promoting insurance covers to organisations
  • review, analyse, predict and cover all possible risks offshore and onshore through insurance to avoid financial losses to the organisation
  • coach other professionals on important features of energy insurance to make the right decisions for one’s organisation
  • thoroughly read through insurance policies before entering into an agreement with insurers to ensure the best offerings for one’s organisation
  • support organisational development by helping establish strong insurance systems to protect the organisation
  • help one’s organisation adjust to changing industrial needs through various revisions in terms of insurance
  • find innovative ways to minimise insurance costs for one’s organisation, thus contributing to capital management, in turn demonstrating one’s potential to assume higher roles and responsibilities

Training Methodology

A mixed training format has always proven to be more effective than theoretical training alone. Zoe Talent Solutions follows a mixed training format, practical and theoretical.

Trainers are highly experienced professionals from the relevant domain who train using audio-visual presentations for easy reference. Trainee participation is encouraged through role-plays, group projects, case study discussions and experience sharing.

This training format is unique to Zoe Talent Solutions and is called the Do–Review–Learn–Apply Model.

Organisation Benefit

With professionals undergoing this course, organisations will benefit as below:

  • Useful and appropriate insurance policies purchased for one’s organisation, covering all critical operational aspects
  • Effective risk prediction, assessment and management for one’s organisation, thus preventing financial losses from physical damage or other risks
  • Increased organisational credibility because of well-managed, well-covered risks as well as strong insurance policies
  • The right choice of insurance policies as per applicable risks and challenges that could pose the greatest threat and cause the greatest business loss
  • Thorough review and scrutiny of insurance policies to check for gaps and situations that could cause financial losses to the organisation in future
  • Organisational growth and development because of organisational stability and credibility
  • Training and mentoring of other employees on energy insurance so that all employees exercise their judgement and caution during operations
  • Adherence to required standards and benchmarks of insurance cover and safety in oil and gas operations
  • Flexibility and freedom to adjust to changing industrial demands to stay competent among other oil and gas organisations
  • Minimal insurance costs and expenses handled by trained and experienced professionals

Personal Benefit

Professionals opting for this training course will benefit in the ways mentioned below:

  • Complete understanding and detailed information about energy insurance in the oil and gas sector
  • Increased knowledge and experience to thoroughly review insurance policies and offerings and choose the most applicable plan for one’s organisation
  • Enhanced foresight and perspective to predict all possible risks and challenges and ensure that these are covered by insurance to prevent financial losses to the business, in turn demonstrating one’s potential and talent
  • Improved understanding and exposure to training other professionals on important aspects of energy insurance
  • Greater understanding and capabilities to devise, on behalf of the insurer, customised plans for organisations to choose from as per their relative risks
  • Better attention to detail and understanding to review insurance policies and check for possible gaps that could pose financial risks to one’s organisation in the future
  • Enhanced decision-making skills to undertake higher roles and responsibilities involving critical decision making with regard to insurance cover
  • Greater ability to contribute to organisational growth and development through sound insurance plans protecting the organisation against all possible risks
  • Increased knowledge and skill to contribute to reducing or minimising insurance costs for the organisation
  • Enhanced skill set and capabilities to undertake higher roles and responsibilities contributing to organisational growth and development as well as helping the organisation adjust to changing industrial demands, fostering faster career progression

Who Should Attend

  • Executives and managers handling various functions and operations at oil and gas terminals
  • The senior leadership of organisations who need to thoroughly understand energy insurance
  • Policymakers/managers involved in securing and reviewing all related policies for the organisation, including insurance
  • Internal/external auditors and safety managers checking for compliance with all required standards and guidelines of safety
  • Insurers who need to understand the needs of the insurance buyer
  • Legal and financial officers playing key roles in decision making and fund management
  • Any other professional interested in knowing more about energy insurance

Course Outline

The course covers the following topics regarding energy insurance:

Module 1 – Broad Risks in Oil and Gas Industry

  • Political risks
  • Geological risks
  • Price risks
  • Supply and demand risks
  • Cost risks

Module 2 – Types of Offshore Energy Risks

  • Weather perils
  • Marine perils
  • Drilling perils
  • Production perils
  • Political risks

Module 3 – Types of Onshore Risks

  • Property damage
  • Boiler explosion/Machinery breakdown
  • Business interruption

Module 4 – Risk Control Techniques

  • Safety programs
  • Security systems
  • Fire suppression
  • Construction material check
  • Pre-employment screening

Module 5 – Benefits of Scale in Risk Management

  • Diversification
  • Financing
  • Expertise
  • Products

Module 6 – Risk Transfer Mechanisms

  • Captives insurance companies
  • Catastrophe bonds
  • Derivatives
  • Insurance
  • Self-insurance

Module 7 – Challenges of the Energy Industry

  • Dynamic business models
  • Globalised environment
  • Human capital management
  • Climate change and environmental care
  • Impact of new technology

Module 8 – Energy Insurance Placement in the Market

  • Tender quotation
  • Broker selection
  • Lead underwriter selection
  • Broker’s placing slip
  • Line authorisation
  • Closing and final signing
  • Final policy wording

Module 9 – Adjustments by Insurance Buyers, Risk Intermediaries and Insurers

  • Energy industry business requirement
  • Current risk management methodologies
  • Energy insurance market trading conditions

Module 10 – Important Aspects of an Insurance Policy

  • Loss control
  • Safety
  • Claims management
  • Financial analysis

Module 11 – Factors Affecting Insurance Costs in Oil and Gas

  • Production level
  • Operations size
  • Payroll
  • Storage type
  • Management experience
  • Resident state of operations

Module 12 – Various Coverage Options

  • Umbrella liability
  • Professional liability
  • Inland marine liability
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Customized Schedule is available for all courses irrespective of dates on the Calendar. Please get in touch with us for details.

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Business Bay, Dubai, UAE

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England, E17 5JR

Reg No: 12933954

Ph: +44 7443 559344

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