Industry Insight: Oil & Gas

Bellwood Prestbury have helped secure group life insurance for a leading Oil and Gas company whose activities extend to all kinds of oil and gas facilities, in remote regions and on offshore rigs.

The challenge was to provide the company’s senior management with global life insurance, valid for the oil and gas industry and applicable in any country or situation in the world. They specifically wanted the cover to be with a reputable, recognised insurer that they knew they could rely on.

As a Lloyd’s Coverholder Bellwood Prestbury were able to place global life insurance cover directly with Lloyd’s, London. The policy provides comprehensive life insurance benefits in any country in the world, including high-risk areas and situations. The insurance is important and valid  for oil and gas industry facilities like offshore rigs and platforms which standard cover would usually invalidate.

Coral Parfitt, Global Insurance Specialist, at Bellwood Prestbury explains: “With executives who can be requested to travel to any country at any time, it’s essential that exclusions on policies are carefully checked. Many international life insurance policies will exclude certain areas, or work that is deemed to be dangerous or risky. By going straight to Lloyd’s, London, we can create individual policies designed to cover any territory and to include offshore work including oil and gas installations. By being specific about risks, we can ensure you’re properly covered and keep the premiums affordable too.”

To find out more about the wide variety of oil and gas insurance options Bellwood Prestbury can help to organise, please contact us on: 0044 (0) 1242 588671 or email us at: oilandgas@bellwoodprestbury.com