ENERGY LIABILITY INsuRANcE IN AsIA pacific

Transcription

1 ENERGY LIABILITY insurance in asia pacific

2 0 ACE insured means being protected by one of the world s leading insurance companies with people who understand your risks and go out of their way to help.

3 ENERGY LIABILITY & CASUALTY EXPOSURES ACE Group is one of the world s largest multiline property and casualty insurers. With operations in 54 countries, ACE provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. ACE Limited, the parent company of ACE Group, is listed on the New York Stock Exchange (NYSE: ACE) and is a component of the S&P 500 index. In the Asia Pacific, ACE is an extensive network of operations serving Australia, Hong Kong, Indonesia, Korea, Macau, Malaysia, New Zealand, Philippines, Singapore, Taiwan, Thailand and Vietnam. In China, ACE Division at Lloyd s China writes both direct insurance and inwards facultative insurance. ACE has the capability in terms of products, geographic reach, underwriting, claims and risk engineering, as well as the experience and appetite to offer integrated insurance coverage to clients across many sectors of the Energy industry including: Oil & Gas Onshore and Offshore Power & Utilities Mining Contractors & Construction ACE s comprehensive range of products and services encompasses many aspects of legal liability exposures and risks affecting operators, facilities, manufacturers and contractors across the Energy industry in Asia Pacific. We provide the coverage required to help our clients maintain their reputation and financial stability, from the design phase, through construction activity and into their operational risks. ACE s Energy Liability policies provide coverage for legal liability arising from damage to third party property or injury to third parties. Accidents do happen and many are as a result of human error typical liability claims in the energy sector arise from: Pollution/pipeline leaks Fires/explosions Equipment/machinery failure or breakdown Injury to contractors employees Damage to a principal s property Loading/unloading/transportation of hazardous products Product contamination Poor risk management/safety/permit to work procedures Inadequate maintenance/inspections Construction liability for Energy Risks We pride ourselves on being innovative solutions providers. 3

4 OUR TARGET BUSINESS Oil & Gas Risks Upstream Onshore/Offshore Exploration & Production (E&P) Operators Mid-stream - Petroleum Bulk stations/terminals including pipelines and transportation Downstream - Oil & Petroleum, petrochemicals, refining and processing LPG Manufacture & Distribution Oil & Gas Products, Plant & Machinery Manufacturers & Suppliers Construction Liability for Onshore/Offshore & Upstream/Midstream/Downstream Oil & Gas Projects Mining Risks All Open Cut Mining Ore, Base & Precious Metal Underground Mining Operational Mining Industry Contractors, Consultants & Service Companies Mining Industry Products, Plant & Machinery Manufacturers & Suppliers Construction Liability for Mining Projects Energy Industry Contractors/Consultants/ Service Companies Power & Utility Risks Electricity Generation Transmission & Distribution Renewable Energy Geothermal, Hydro, Wind, Solar, Waves Power & Utility Products, Plant & Machinery Manufacturers & Suppliers Gas, Water & Sewerage System Utilities Construction Liability for Power & Utility projects Specialist Oil & Gas, Power & Utility and Mining Contractors, Consultants, Advisory & Service Companies Operation & Maintenance (O&M) Contractors Engineers, Surveyors, Safety Officers, Security, Catering, Training, Testing organizations Fabrication and Installation Contractors Equipment and Machinery Rental, Hire & Repair Companies Offshore (manual and non-manual) Contractors 4

5 COVERAGE SUMMARY Primary, Excess & Umbrella Liability Coverage for Legal liability arising from Personal Injury &/or Property Damage Limits up to $200,000,000 (Maximum limits vary by jurisdiction and risk.) Comprehensive General Liability (CGL) Public Liability Product Liability/Completed Operations Umbrella Liability Excess cover above underlying policies & gaps in Primary coverage Coverage Capabilities Sudden & Accidental Pollution Contractual Liabilities Contractors Contingent Liability Cross Liability Failure to Supply Electromagnetic Fields Errors & Omissions Employers Liability/Workers Compensation Waiver of Subrogation Loading & Unloading Care, Custody & Control Principals Existing Property Watercraft Advertising Liability Product Recall Expense Non-owned Auto/Aviation Marine Liabilities Acquisitions First Aid/Medical Facilities Other Key Features & Benefits of ACE s Energy Liability Coverage Broad definition of Personal Injury and Property Damage Broad definition of Insured Excess policies written on follow form basis Umbrella policies provide difference in limits/ conditions and drop down coverage Broad form, manuscript or established specific Energy Liability wordings Worldwide Jurisdiction & Territorial coverage Global/Regional programs - ability to cover global operations for Asia Pacific headquartered risks Worldwide Sales including USA/Canada Exports ACE s global network assists in effective claims management & settlement Liability Risk Engineering capabilities to help clients reduce risk & loss costs Marine Services Liability for ship repairers/ manufacturers and marina operators Environmental Impairment Liability * Not all coverages available in all jurisdictions 5

6 Key Strengths of ACE Innovation We believe we are one of the market leaders in terms of products, geographic reach, underwriting, claims expertise, and engineering capabilities. We pride ourselves on being innovative solutions providers. Using our extensive experience, we focus on products and services in market segments where this specialised knowledge creates a natural alliance and supports the key business goals of our customers in the Energy industry. Stability ACE in Asia Pacific is part of ACE Group, one of the world s largest multiline property and casualty insurers. ACE s total capital position exceeds $35.8 billion and net loss reserves, which back our policyholder commitments, exceed $26 billion*. Core operating insurance companies are rated AA for financial strength by S&P and A++ by A.M. Best**. You can be assured of the stability and long-term sustainability of ACE. Multinational Capabilities ACE understands that companies supplying and working in the Energy industry are generally specialised and can sometimes have worldwide operations that require compliant insurance solutions. The business environment for these companies is constantly changing; they face increased risks and have to adhere to numerous country-specific regulations. ACE has the answer with our Multinational service, offering clients: An extensive global network; local expertise in over 170 countries Indigenous know-how; we can structure an appropriate program whilst adhering to local regulations ACE Worldview technology allowing you to monitor your global program in real-time from an easy-tonavigate home screen * As of 31 March 2015 ** Ratings apply to ACE s core operating insurance companies. Ratings vary by country and can be viewed at Underwriting Know-How ACE is first and foremost an underwriting company and discipline defines our approach to underwriting. The Power, Utilities, Energy and Construction unit comprises a team of underwriting and risk management professionals who are focused on the specific risk requirements of the power, utilities, energy and construction sectors. The team leverages ACE s global strengths in these sectors to develop global and local solutions according to the client s needs. Risk Engineering The ACE global network of professional loss prevention engineers are committed to delivering first class service to our clients. With their background and experience, our engineers are able to evaluate a wide variety of complex risks. ACE s Risk Engineers are perfectly placed to help clients in the energy industry gather data and information on a Risk enabling our clients to manage the exposures that their businesses face on a cost-effective basis. Claims Service At ACE, we understand the importance of an effective claims service. Claims can affect the day-to-day operations of a business, or even the ability of a company to stay in business. We focus on the claim, so you can focus on your business. We are committed to delivering a market-leading claims service across the region. We seek to view each claim positively and to work collaboratively with our insureds to deliver an appropriate solution for every situation as expeditiously and as seamlessly as possible. Where appropriate, we will appoint the experts to advise on technical matters. We are committed to training our claims staff to be the best in the industry. Our core objective is to settle valid claims as quickly as possible so that our clients can get their businesses back on track. For lower value, high-volume losses, we can provide a fast-track claims service to take the administrative burden off our clients. 6

7 Our core objective is to settle valid claims as quickly as possible so that our clients can get their businesses back on track.

8 Contact Us Australia ACE Insurance Limited The ACE Building Level O Connell Street Sydney New South Wales 2000 Tel: (02) Fax: (02) Hong Kong ACE Insurance Limited 25th Floor, Shui On Centre No. 6-8, Harbour Road Wanchai, Hong Kong Tel : Fax : Indonesia PT ACE Jaya Proteksi (PT ACE Jaya Proteksi is registered and supervised by Otoritas Jasa Keuangan) KEM Tower 8th Floor Jl. Landasan Pacu Barat Blok B10 Kav No. 2 Kemayoran Jakarta Indonesia Tel : +62 (21) Fax : +62 (21) / 68 Korea ACE American Fire and Marine Insurance Company Korea 19th Floor, 110 Huamro, Jung-gu (Namdaenumro-5ka, Seoul City Tower), Seoul , South Korea Tel : +82 (2) Fax : +82 (2) Macau ACE Seguradora S.A. Avenida Comercial De Macau No. 5 Edf. FIT Centre 5 Andar Macau Tel : Fax : Malaysia ACE Jerneh Insurance Berhad Wisma ACE Jerneh 38, Jalan Sultan Ismail Kuala Lumpur Malaysia Tel : +60 (3) Fax : +60 (3) New Zealand ACE Insurance Limited CU1-3, Shed 24 Princes Wharf Auckland 1010 New Zealand Tel : +64 (9) Fax : +64 (9) Philippines Insurance Company of North America 24th Floor Zuellig Building Makati Avenue corner Paseo de Roxas Makati City 1226 Philippines Tel : +63 (2) Fax : +63 (2) Singapore ACE Insurance Limited 600 North Bridge Road #04-02 Parkview Square Singapore Tel : Fax : Taiwan Insurance Company of North America, Taiwan Branch 10F, No. 8, Xin Yi Rd., Sec. 5 Taipei 110, Taiwan R.O.C. Tel: Tel : +886 (2) Fax : +886 (2) Thailand ACE INA Overseas Insurance Company Limited 399 Interchange 21 Building Level 26-30, Sukhumvit Rd Klongtoey Nua, Wattana Bangkok Thailand Tel : +66 (2) Fax : +66 (2) Vietnam ACE Insurance Company Limited Saigon Finance Center 9 Dinh Tien Hoang Street, 8/F Da Kao Ward, District 1 Ho Chi Minh City, Vietnam Tel : +84 (8) Fax : +84 (8) Important Notes This brochure is intended to provide only a general description of the products and associated services offered by the ACE Group. Any advice in this brochure is general only and does not take into account a potential purchaser s objectives and financial situation or needs. Please refer to the full terms, conditions and exclusions of the policy. Coverages are underwritten by one or more companies of the ACE Group. Not all coverages are available in all countries where the ACE Group of companies operates. Coverages are subject to licensing requirements and sanctions restrictions. This document is neither an offer nor a solicitation of insurance or reinsurance products. Potential purchasers should contact their local broker or agent for advice ACE Group. ACE, ACE logo, and ACE insured are trademarks of ACE Limited. 0