Training Course on Understanding Energy Insurance

Training Course on Understanding Energy Insurance

Introduction

The global energy sector, from oil and gas to renewables, is fraught with complex operational, financial, and environmental risks. Navigating these risks demands a specialized insurance strategy that protects against liabilities, property damage, business interruptions, and more. Training Course on Understanding Energy Insurance delivers comprehensive, industry-focused knowledge on structuring insurance coverage tailored to the energy sector’s needs.

 

This course empowers participants to dissect various insurance products such as upstream/downstream coverage, environmental liability, and cyber risk solutions specific to energy operations. With in-depth case studies, real-world scenarios, and current regulatory insights, professionals will learn to mitigate energy sector risks using trending strategies and best practices in risk management, insurance analytics, and energy policy compliance.

Course Objectives

By the end of this course, participants will be able to:

1. Understand the structure and components of energy insurance policies.
2. Analyze risk exposure in upstream, midstream, and downstream operations.
3. Assess the role of environmental liability insurance in the energy sector.
4. Apply claims management strategies specific to energy projects.
5. Identify and evaluate emerging cyber risks in the energy industry.
6. Navigate renewable energy insurance frameworks.
7. Interpret key clauses in energy insurance contracts.
8. Utilize reinsurance solutions for high-risk energy exposures.
9. Implement loss prevention techniques in hazardous environments.
10. Evaluate the impact of ESG (Environmental, Social, and Governance) on energy underwriting.
11. Examine regulatory compliance related to global energy operations.
12. Design customized energy insurance portfolios.
13. Investigate the financial impact of business interruption insurance.

Target Audience

1. Energy Risk Managers
2. Insurance Brokers and Underwriters
3. Compliance and Legal Officers
4. Environmental Consultants
5. Corporate Finance Managers
6. Insurance Claims Adjusters
7. Renewable Energy Project Managers
8. Health, Safety & Environment (HSE) Officers

Course Duration: 10 days

Course Modules

Module 1: Introduction to Energy Insurance

• Overview of the energy sector landscape
• Key energy industry risks
• Insurance vs. risk retention strategies
• Types of energy insurance products
• Basic policy structure
• Case Study: Coverage gaps in Deepwater Horizon

Module 2: Upstream Energy Insurance

• Exploration and production risk factors
• Well control and blowout coverage
• Equipment and rig insurance
• Offshore construction risks
• Contractor vs operator insurance
• Case Study: Macondo Prospect oil rig disaster

Module 3: Midstream and Downstream Insurance

• Pipeline and storage facility risks
• Refining and distribution exposures
• Product liability issues
• Infrastructure insurance
• Fire and explosion coverage
• Case Study: Colonial Pipeline cyberattack impact

Module 4: Renewable Energy Insurance

• Solar and wind risk exposures
• Natural catastrophe protection
• Project lifecycle coverage
• Delay in start-up insurance
• Battery storage and technology risks
• Case Study: Solar farm storm damage analysis

Module 5: Environmental Liability Insurance

• Types of environmental liabilities
• Pollution legal liability (PLL)
• Clean-up cost coverage
• Third-party injury and property damage
• Cross-border liability issues
• Case Study: BP oil spill and PLL claims

Module 6: Business Interruption and Contingent Coverage

• Revenue loss modeling
• Gross earnings vs gross profit
• Trigger events and exclusions
• Dependency coverage
• Indemnity period management
• Case Study: Fire at petrochemical plant halting operations

Module 7: Construction and Operational Insurance

• Insurance during development phase
• Completed project risk exposure
• CAR/EAR policies
• Marine cargo and delay in start-up
• Performance guarantee issues
• Case Study: LNG plant delay due to equipment failure

Module 8: Insurance Policy Drafting and Negotiation

• Key policy clauses
• Indemnity limits and deductibles
• Exclusions and endorsements
• Wording standardization
• Negotiating renewals and pricing
• Case Study: Negotiation breakdown in offshore wind deal

Module 9: Claims Management in the Energy Sector

• Notification and documentation requirements
• Claims investigation and adjustment
• Fraud prevention
• Dispute resolution methods
• Role of loss adjusters
• Case Study: Disputed wind turbine insurance claim

Module 10: Reinsurance Strategies for Energy Risks

• Types of reinsurance applicable
• Treaty vs facultative reinsurance
• Capacity enhancement
• Risk pooling and diversification
• Catastrophic loss management
• Case Study: Syndicated reinsurance post-natural disaster

Module 11: Cybersecurity and Digital Risks

• Cyber risk in SCADA systems
• Cyber insurance structure
• Business interruption from cyber threats
• Risk assessment tools
• Incident response planning
• Case Study: Ransomware attack on gas utility company

Module 12: Regulatory and Legal Frameworks

• Local vs international regulatory requirements
• Sanctions and embargo considerations
• Regulatory risk mapping
• Licensing and permitting impact
• Contractual risk transfer
• Case Study: Legal breach in energy waste management

Module 13: ESG and Sustainability Considerations

• ESG metrics in underwriting
• Impact on premium pricing
• Reporting obligations
• Green project incentives
• Governance risk profiling
• Case Study: ESG integration in offshore wind farm insurance

Module 14: Risk Assessment and Underwriting Models

• Quantitative and qualitative risk tools
• Risk matrices and modeling software
• Data collection and interpretation
• Predictive analytics in energy
• Site inspection protocols
• Case Study: Risk profile assessment of geothermal project

Module 15: Designing Energy Insurance Programs

• Tailored insurance solutions
• Self-insurance vs commercial insurance
• Bundled vs unbundled coverages
• Program optimization strategies
• Collaboration with insurers and reinsurers
• Case Study: Customized package for multinational energy firm

Training Methodology

• Instructor-led interactive webinars and workshops
• Real-life industry case studies for hands-on learning
• Group discussions and breakout analysis sessions
• Downloadable resources and templates for policy review
• Post-course evaluation and knowledge checks

Register as a group from 3 participants for a Discount

Send us an email: info@datastatresearch.org or call +254724527104 

Certification

Upon successful completion of this training, participants will be issued with a globally- recognized certificate.

Tailor-Made Course

 We also offer tailor-made courses based on your needs.

Key Notes

a. The participant must be conversant with English.

b. Upon completion of training the participant will be issued with an Authorized Training Certificate

c. Course duration is flexible and the contents can be modified to fit any number of days.

d. The course fee includes facilitation training materials, 2 coffee breaks, buffet lunch and A Certificate upon successful completion of Training.

e. One-year post-training support Consultation and Coaching provided after the course.

f. Payment should be done at least a week before commence of the training, to DATASTAT CONSULTANCY LTD account, as indicated in the invoice so as to enable us prepare better for you.