Offshore risks – P&I cover under the Standard Offshore Rules (SOR)
This is a standalone P&I cover on a fixed premium basis provided to offshore unit owners and/or operators that are not eligible for pooling any of their liabilities within the IG system: drillships, drilling rigs, FPSOs etc.
SOR cover includes a built-in contractual extension that responds to P&I liabilities assumed under contract (but cargo liabilities and liability for control of well/subsea pollution are excluded).
Offshore Liability Extension (OLE)
This complements the SOR cover as it reinstates P&I cover for some risks excluded under the SOR. It is broad in scope as it can cover:
- contractual liability for loss/damage to third-party property on board the entered unit or being used from the unit
- death, illness or injury of crew whilst they are not working on board the unit
- clean-up of pollution from the well caused by negligence and contractual liability for damage caused by pollution from the well
- clean-up of debris or equipment deposited on the seabed as a result of a casualty.
Offshore P&I War Risks cover responds to P&I liabilities arising that are excluded under the SOR by virtue of the war risks exclusion clause.
Offshore biochemical risks cover responds to P&I liabilities for crew death, injury or illness arising from biochemical risks, which are otherwise excluded under the offshore war risks cover.