Offshore Loss Of Production Insurance

Offshore Loss Of Production Insurance

Coverage

To indemnify the Insured loss of production during the recovery period at the Insured’s Premises and increased cost of working as defined, directly caused by either physical loss of or physical damage to offshore real or personal property; or offshore Well out of control, occurring while this Policy is in force arising from a peril insured under any Property Damage and/or Operator’s Extra Expenses policy(ies) bought to protect Insured’s Premises as defined.


Exclusions

The Insurer shall not indemnify any loss or damage such as the following:

  • Loss of Production resulting from confiscation or expropriation or any delay caused thereby,
  • Loss of Production following and subsequent to abandonment of the Insured’s interest in any Insured Premises, for any reason whatsoever, prior to a Total Loss of such Insured Premises,
  • Infidelity or any dishonesty or fraud on the part of the Insured or any officer or employee of the Insured.
Enquire now Back to Property Insurance
Back to Search Result