NIC General offers a comprehensive energy package for all your risks along the chain, from upstream risks, midstream risks to downstream risks.

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NIC General offers a comprehensive energy package for all your risks along the chain, from upstream risks, midstream risks to downstream risks.

We have deep and consistent expertise in energy risks leveraged from our Group Company Industrial & General Insurance (IGI), Nigeria who have been underwriting customized specialty energy covers since 1992 for a broad range of clients on the African Continent.

NIC General has exceptional energy treaties are supported with the ‘A’ rated reinsurance security hence providing us with the ‘risk appetite’ to take on any risk of whatever magnitude in the upstream, midstream and downstream  of the Ugandan Oil & Gas Industry

Our competitive and bespoke energy covers available for exposures on following levels of your operations are as follows

  1. UPSTREAM LEVEL

(Covering risks at stage of Prospecting, Exploration, Development and extracting/Actual production)

Insurance products/ Covers Offered for this level

  • Operators Extra Expenses (OEE)/Control of Well Insurance to cover:-           
  • Blow Out of Wild Cat, Exploratory, Outstep/Appraisal, Shut-in and Production Wells
  • Re-drilling expenses of Relief Well (s) or Making Well (s) safe
  • Seepage & pollution
  • Enhanced Energy Exploration & Development (EED) insurance to cover:-
    • Clean –up and Contamination
    • Care Custody and Control
    • Underground Control of Well
    • Unlimited Redrilling
    • Extended Redrilling
    • Deliberate Well Firing
    • Evacuation Expenses
    • Making Wells Safe
    • Contingent Joint Venture
    • Unintentional Delay
    • Error or Omission Property in transit anywhere in the world
    • Property of others in Care, Custody or Control of the insured
    • Contractual or legal liabilities to insure
    • Removal of Wreck or Debrils
    • Sue and Labour Expenses
    • Business Interruption
    • Contingent Business Interruption
    • Advanced Loss of Profits
    • Extra Expenses

      (iii)  Offshore and Onshore exploration and production All Risks to cover:- 

  • Physical damage to fixed and floating structures
  • Sub water/ Underground Pipe laying/ installations
  • Business interruption following physical damage loss
  • Kidnap and Ransom
  • Exploratory, Appraisal & Production drilling
  • Offshore Construction All Risks
  • Operational Liabilities
  • Political Violence, Terrorism & Sabotage
  • Broad General Liability
  • Employer’s Liability
  • Management Liability (Director’s & Officer’s Liability)
  • Land Rigs
  • Associated well site equipment
  • Completion equipment
  • Oilfield/Overside/Downhole Equipment
  1. MIDSTREAM LEVEL

(Covering risks of (a) transport from offshore/onshore field to marine terminal/ refinery/petrochemical plant/gas processing, (b) transmission and (c) Storage)

Covers offered by NIC General under this level

  • Marine Cargo
  • Good in Transit,
  • Boilers & Pressure Vessel Explosion,
  • Contractor’s Plant & Machinery and
  • Product Liability Insurance
  • Industrial All Risks
  • Professional Indemnity

These covers will protect your

  • Gas processing and distribution centers
  • Terminals
  • LNG facilities
  • Renewable facilities
  • Pipelines
  • Oil Refineries
  • Petrochemical plants
  • Petrochemical fertilizer plants
  • Chemical plants
  • Storage Tanks
  • Land Rigs and associated equipment
  • Drilling and completion equipment

 

  1. DOWNSTREAM LEVEL

(Covers your risks at the stage of marketing & distribution of petroleum products)

 

Covers offered by NIC General under this level

  • Asset All Risks
  • Marine Cargo/Good in Transit,
  • Marine Hull
  • Cash in Transit,
  • Fidelity Guaranty
  • Fire & Special Perils
  • Public Liability
  • Theft/Burglary
  • Motor Fleet Comprehensive cover
  • Trade Credit
  • Motor Fleet
  • Employers’ Liability
  • Business Interruption to cover:-

These covers will protect your

  • Gas/ Petroleum/Fuel Stations
  • Power stations
  • Distribution Fleet of vehicles and water vessels
  • Regional or Area Distribution office asset
  • Distribution Storage Facilities
  • Field Revenue Collection Centers
  • Protracted sales debts