Offshore Oil and Gas Contractor Insurance

The business insurance policy will provide cover for claims including:

Design errors
Your plans for a project have been incorrectly calculated, rendering the project unfit for purpose and in need of a rethink. Your client takes legal action against you for the costs of correcting your mistake and potentially for the business interruption costs. Professional Indemnity insurance would provide cover in this instance.

Loss of data or documents entrusted to you
Key data in your trust has been mislaid or accidentally deleted from a computer or server. The data is required to complete a key project and as a result the project is upheld incurring extra operational costs. Professional Indemnity insurance would provide cover in this instance.

Breach of contract
A project overruns and you miss an agreed deadline for delivery of an engineering project you are contracted for, incurring extra operational costs. Professional Indemnity insurance would provide cover for this in the event your client made a claim against you.

You cause an accident while working onsite
You are contracted to work onsite for a client and close a security door on a colleagues fingers. A claim is made against you for causing the accident and to pursue damages for loss of earnings for the employee as the injury meant they could not work. In this instance, you would be covered by Public Liability insurance.

With Caunce O’Hara’s intuitive online quote and buy system you can get an indicative quotation for your energy contractor insurance in a matter of minutes.

As an example: an electrical design engineer with an annual turnover of up to £50,000, who needs Professional Indemnity insurance with an indemnity of £500,000 of cover (in any one claim) would pay as little as £249.60 per year. We think this represents good value considering the level of cover and peace of mind that you gain. (Figure correct 17.11.2021)

At Caunce O’Hara, we have a full range of oil and gas engineering professions covered by tailored policies that provide the exact level of coverage required by your individual situation.

Apart from Professional Indemnity insurance, energy contractors will likely be required to carry Public Liability insurance as part of their contractual obligations to protect the clients’ property in the event of damage and to protect members of the public and staff in the event of an accident.

It is also important to note that as a self-employed business owner (including contractors working for their own limited company), a claim can be made against you personally with unlimited personal liability, therefore Directors and Officers insurance is a valuable insurance policy which will cover you in this instance.

Our Business Combined insurance provides a package of cover that includes Public Liability, Employers’ Liability, Directors and Officers insurance, and cover for business office equipment and portable equipment.

Tax Enquiry and Legal Expenses insurance will provide cover for costs incurred from a legal occurrence or claim that your indemnity and liability insurance does not cover, including the costs incurred from an IR35 tax investigation.

We insure companies registered or individuals paying taxes in the UK, Channel Islands and Isle of Man with cover for both UK and Europe offshore, USA and Canada including Gulf of Mexico offshore and the rest of the world.