15 Jun 15: Specialist lines underwriting agency, CFC has announced the launch of O&G, its comprehensive insurance solution for a wide range of Australian oil and gas contractors such as drilling consultants and well-site operators, welding inspectors and geologists.
Andrew Holmes, Chief Underwriting Officer at CFC, says: “CFC’s O&G cover fills a gaping hole in the insurance market for Australian oil and gas professionals who are required to occasionally undertake manual work. They work in a complex and often hazardous industry and face a unique set of risks but, until now, have traditionally been overlooked by standard oil and gas policies. O&G provides a comprehensive solution tailored to their specific needs in one simple package at very competitive prices.”
A unique feature of the product is the ability to combine cover for financial loss arising from professional advice with cover for bodily injury or property damage claims arising from hands-on work. O&G’s comprehensive package also includes full civil liability professional indemnity cover, broad breach of contract protection and commercial general liability.
100% backed by Lloyd’s of London, CFC has capacity to offer limits of liability of up to AU$5 million and deductibles start from just AU$2,500.