Energy companies harness some of the world’s most important resources, helping to fuel economies and serve communities worldwide. Energy insurance helps them navigate the challenges and opportunities related to oil and gas industry.

Historically the insurance market has focused on oil and gas. It comprises both upstream onshore and offshore production and extraction operations along with downstream storage, refining, distribution, and power generation facilities, including increasingly new renewable energy technologies such as wind farms, solar, and hydro risks. All of these risks are exposed to elemental losses but offshore installations are particularly vulnerable to storm damage. The risk transfer programmes that are put together for these risks require the participation of direct insurers, reinsurers, self-insurance or captive arrangements, and industry funded mutual companies. Other financial instruments such as Catastrophe Bonds and Hedge Funds are also utilised to provide the necessary protection capital for these risks.