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OOUL’s predominant focus is upstream energy risks, including onshore and offshore coverages, both operational and construction. However the agency also writes a limited book of MENA/Afro- Asian downstream risks.

OOUL targets short/medium tail risks that are technically well rated, have a proven management team and positive loss history. Currently, the portfolio consists principally of the following classes of business:

  • Offshore and onshore operating risks, physical damage and business interruption
  • Offshore and onshore drilling contractors
  • Offshore construction, both fixed assets e.g. platforms and mobile drilling units but usually avoiding delay in start-up risks
  • Third party legal liabilities, where part of a package
  • Control of well
  • Limited appetite for Downstream business and restricted capacity

It is not anticipated that OOUL will write the following areas/classes;

  • USA Catastrophe exposed (both Earthquake and Named Windstorm) business
  • Japanese Earthquake exposed business
  • Taiwan Earthquake exposed business
  • OFAC excluded business
  • Stand-alone US control of well business
  • Delay in start-up

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