Introduction

West recognises the unique nature of risks faced by Members operating in the offshore sector and offers a tailor-made insurance product to cover these additional risks which sits alongside and augments the Member’s normal P&I Rules cover.

Unique risks
Members operating vessels in the Offshore and Renewable Energy industry face not only standard P&I risks but also other additional risks unique to the these sectors such as contractual liabilities arising under certain indemnities which fall outside the Club’s P&I Rules, or undertaking work of a specialist nature including well- stimulation, cable or pipe laying, construction, installation, maintenance work or dredging.

Club P&I Rules cover contractual liabilities on a knock-for-knock basis where the shipowner preserves their right to limit their liability. However, many offshore charter party contracts are often either amended industry standard forms for example BIMCO SUPPLYTIME or charterers company standard contracts, which do not apportion liabilities on a knock-for-knock basis and waive the shipowner’s rights to limit liability.

Contractual assistance
The Club’s in-house legal specialists offer a bespoke contract review service to identify where and to what extent additional cover may be required. This input from the Club will assist Members when negotiating the contractual terms with the oil company charterers and so may assist in reducing the need
for additional cover.