nordic plan: insuring the special needs of MOUs and their construction Helle Hammer, Managing Director Shipping and the Law Naples, 25 October 2016

Nordic association of marine insurers Trade association serving the Nordic lead market through; comprehensive statistics competence building a common public voice agreed all risks conditions

The nordic marine insurance plan Comprehensive coordinated solution Non-P&I marine & offshore covers All risks principle Agreed document Clarity and certainty Nordic claims handling

Efficient Claims handling Claims Leader acting on behalf of all co-insurers Salvage, removal, repairs Third party claims Guarantee / counter guarantee Interest on claims > 1 month

The structure of the plan Part 1 Common Rules Part 2 Hull insurance Part 3 Other insurances for ocean-going ships Part 4 Mobile offshore units (MOUs – Chapter 18) and other insurances

Typical MOUs to insure under Chapter 18 Mobile Offshore Drilling Units (MODUs) & Accommodation Units Mobile Offshore Production Units (MOPUs) Floating storage & specialised offshore units/vessels Offshore Well Intervention/Light Well Intervention (LWI) Units/Vessels

Insurance of mous – chapter 18 Section 1 – General Rules to the Scope of Insurance Section 2 – Hull & Machinery Insurance Section 3 – Total Loss Insurances Section 4 – Loss of Hire Insurance Section 5 – War Risks Insurance Section 6 – Construction Risks Insurance

Seamless cover: construction  operation Operations Site Integration Yard Fabrication Yards Vendors BW Catcher: Global Project

Other features to cater for special needs of mous Objects insured Hull, superstructure, machinery/equipment on board, above water, subsea or in the well Separate sums insured Option to split for MOUs with disconnectable equipment Separate objects when MOU away from field One insured object when in field – regardless connected or not Loss of main class Safety regulations Well pressure control equipment MOU move plan Measures to avert blow-out Collision liability for damage to fixed installations Source: https://www.flickr.com/photos/matthewdevalle/

Thank you for the attention!