The oil & gas sector faces a range of very particular challenges, demanding specialist insurance which can accommodate complex and changing risks. We offer tailored solutions covering oil & gas infrastructure at every stage of its lifecycle, from pre-feasibility through to construction, operation and the expiry of a concession.

The specialist teams at Alesco RMS have delivered successful insurance and reinsurance to some of the biggest, most complex projects in the oil, gas & petrochemical sector. And we do it around the world – from the Middle East and across Africa to the Americas and beyond. We also understand the financial squeeze in this sector, and the very pressing need for insurance to be both competitive and fit for purpose.

Our services

  • Construction – Our team has been involved at all the key stages of the development of a range of oil & gas construction projects, including onshore and offshore drilling rigs.
  • Advisory services – We place a strong emphasis on advocacy; for example, we’ll review your project agreements well in advance of your needing insurance. We’ll help you to develop your risk allocation and create your insurance marketing strategy.
  • Placement – We’ll design your policy wordings, approach the most appropriate underwriters in the most appropriate markets, and place your agreed insurance programme.
  • Alternative risk transfer – We can provide solutions to complex challenges, and offer you the benefit of our sophisticated actuarial, consulting and modelling capabilities.
  • Claims management – Thanks to our in-depth knowledge of this industry, our in-house claims team is highly adept at pursuing claims on behalf of our clients.

Why we’re different

  • We have a very technical approach to our advisory services and placement. That’s because we really do understand the nature of the oil, gas & petrochemical sector: how plants are built, how they operate, and the inherent and external challenges they may face.
  • We have direct experience of managing the differing interests of the multitude of stakeholders in a major project, including project owners and sponsors, construction contractors, banks and other lenders, engineering firms, governments and public authorities, insurance and reinsurance companies, and both retail and wholesale brokers.
  • We are close to the most relevant underwriters in the leading international markets for this sector, which means we know where the appetite exists for each project and can find you the right insurance at the right price.
  • We allow contractors to adjust their premiums, resulting in significant credits for stacked assets.

Our clients

Our highly skilled team has significant experience of delivering specialist technical advice, placement and claims services for all types of projects related to the oil, gas & petrochemical sector, including:

  • On-shore and off-shore drilling rigs
  • Gas plants
  • Refining
  • Petrochemical plants
  • Liquefied natural gas
  • Pipelines
  • Infrastructure & utilities.

Our clients within these sectors include owners, contractors, sub-contractors, financiers, and special-purpose companies. We also work with insurance companies and retail insurance brokers in a wholesale capacity.

Types of cover

Alesco RMS has significant expertise of providing a wide range of cover for the oil, gas & petrochemical industries, including:

  • Property damage insurance
  • Control of well & operator’s extra expense insurance
  • Business interruption, loss of production income & loss of hire insurance
  • Construction cover
  • Third-party & excess liabilities cover
  • Oil Pollution Act (OPA) insurance.

Please get in touch

Our specialists will be pleased to hear from you, whether your interest lies in insuring your construction phase; casualty, property or environmental liability cover; or in alternative risk transfer. Our key contacts are listed below.

View our glossary of insurance terms

Oil & Gas Key Contacts