The Standard Club is a leading provider of liability cover for shipowners and operators in the offshore oil and gas and alternative energy industry.
The club covers many different types of operations – FPSOs, drilling rigs, supply boats, offshore construction vessels, heavy lift ships, windfarm installation ships and other ships carrying out a wide range of specialist operations from geographical survey to offshore satellite launching.
The club offers tailored insurance products addressing the needs of members operating in the oil and gas industry as well as those in other specialist trades.
Broad cover and high limits up to US$ 1 billion can be provided to meet each member’s specific needs whilst minimising gaps in coverage.
- Drilling and productions: the club has a set of dedicated cover conditions - The Standard Offshore Rules - setting out in one place the comprehensive liability cover provided to FSPOs and offshore drilling rigs
- Offshore conditions for AHTSs and PSVs and other offshore vessels
- Specialist operations: To provide cover for specialist operations, such as dredging, pipe-laying, cable-laying, construction, well-stimulation etc.
- Contractual P&I liabilities: For liabilities arising solely under contracts whose terms fall outside those envisaged under standard cover under the rules
- Salvors' cover: For professional salvors, providing cover for contractual and tortious liabilities arising out of salvage operations, with or without the involvement of an entered ship.
The club offers a contract review service which advises members of the effect of their contractual arrangements.
We review contracts to assess if standard cover is sufficient. We will highlight any contractual liabilities which may expose the member to risks requiring extensions to his cover, so that we can provide a level of comfort in terms of the member’s cover before any potential liabilities arise.
The club has produced a number of insurance products specifically designed for shipowners operating in the offshore oil and gas and alternative energy industry which give these owners comprehensive cover set out in clear and unified wordings.
They allow members to buy cover for most aspects of their operations.
The specialised cover wordings include dedicated Offshore P&I rules for ships operating in the drilling and production sector, and buy-backs of cover for many of the risks excluded from normal poolable P&I cover, such as liabilities arising out of specialist operations or the operations of divers or underwater vehicles.
These covers are reinsured through the club’s non-pool reinsurance programme, which allows the club to offer a wide range of terms and limits to best suit individual members’ needs up to a maximum limit of US$ 1 billion any one accident.
The wordings of all of the products mentioned can be found by clicking on the links on the right.