Essential protection for businesses engaged in the transportation, storage, and wholesale marketing of crude or refined petroleum products.

Our midstream-only facility is significant because hybrid strategies (blending upstream, downstream and property) are often highly problematic. Hybrid approaches can lead to onerous survey and/or engineering requirements; catastrophe sub-limits (earthquake, flood, etc); less favourable coverage terms; and cross-class claims leadership.

At Alesco, our approach is to streamline the process within a single market, with a midstream energy facility placed entirely within the upstream market. This means that our facility offers:

  • broad coverage with bespoke wordings, at competitive pricing
  • asset values of up to US$100m (100%) for any one item
  • no requirement for surveys or engineering
  • no overall combined single limit
  • no sub-limits for wind, earthquake or flood
  • no separate retentions
  • cover for resulting business interruption
  • a determined, in-house claims service with a single claims leader
  • a reduced administrative burden.

Physical damage – additional limits/coverage included

We will tailor your cover to your own precise needs, including:

  • Unscheduled miscellaneous equipment – owned, leased, care, custody & control (to US$2.5m)
  • Demolition and increased cost of construction (to US$250,000)
  • Extra expense (to US$1m)
  • Temporary repairs/expediting expense extension (to US$500,000)
  • Fire-fighting materials & expense cover (to US$150,000)
  • Pollution clean-up cover (to US$250,000)
  • Minor works (10% of scheduled item or US$500,000, whichever is greater)
  • Sue and labour costs (up to 25% of agreed value)
  • Removal of wreck/debris (up to 25% of agreed value)
  • Roadways/causeway coverage resulting from named perils.

Scope of the facility

We can arrange insurance cover for midstream energy operations such as:

  • Oilfield equipment (wellheads, tanks, batteries, flowlines, compressors, gathering lines, etc)
  • Oil & gas processing plants
  • CO2 plants (extraction, sequestration, enhanced oil recovery, etc)
  • Liquid natural gas (LNG) terminals
  • Pipelines
  • Oil/fuel in storage
  • Delivery systems
  • Construction/erection all risks.

Why work with us?

  • We are experienced in energy – Our energy specialists have many years’ in-depth experience of the sector, so they understand the key risks, technologies and claims landscape
  • We offer bespoke handling – All of our clients get the same high level of service and bespoke policy wording, whether it’s for a single-shot well or a multinational oil & gas company
  • We are innovative – Unlike most brokers, we have a dedicated analytical team specialising in energy; we can evaluate alternative risk transfer strategies for our clients, offering attractive solutions outside of the traditional insurance markets
  • We are well-connected –  We have strong relationships with the insurance markets. The majority of the decision-making energy underwriters are of the same age as our team, so we have effectively ‘grown up’ with those underwriters – providing us with stronger working relationships and a valuable negotiating edge.

Please get in touch

If you’re a midstream energy company looking for a better service at a better price, it’s worth having a conversation with us. Our key contacts are listed below.

View our glossary of insurance terms

Midstream Insurance Solutions Key Contacts