Oil Rigs

A leader in the underwriting of upstream risks for over 45 years, AIG has developed long lasting relationships with many of our clients worldwide.

This segment of insurance is designed to provide comprehensive insurance package coverage for the myriad of complex risks presented by the offshore and onshore exploration, production and contractor segments of the upstream energy industry.

Who is it for?

Upstream, oil and gas, both onshore and offshore including owners, operators and contractors. 

See our Risk Appetite

Product Details

Capacity: Up to US $400,000,000 any one occurrence, any one risk; one of the highest among upstream insurers in the market.

Risk Types

We underwrite all types of risks worldwide, including:

  • Offshore Physical Damage for platforms, sub-sea & pipelines
  • Operators Extra Expense (Control of Well insurance) – onshore and offshore
  • Business Interruption, Loss of Production Income
  • Hull & Machinery, Loss of Hire, and TPL for Offshore Contractors
  • Land Rigs & associated drilling equipment
  • Offshore construction projects
  • Gulf of Mexico Named Windstorm coverage


Why choose Oil Rigs insurance from AIG?

We are a leader in the underwriting of Upstream risks for over 45 years and have developed long lasting relationships with many of our clients worldwide.

Our market-leading capacity and technical underwriting, claims and engineering expertise enable us to comprehensively address the most complex insurance needs of our customers around the world, including partnerships with many clients & their captive insurance companies to provide fronting and structured financial solutions to meet the most challenging traditional and non-traditional insurance needs.   


Claims Excellence

Help when it matters most

Risk Engineering

We provide value-added loss control services from the drilling phase for Operators through HSE, site inspection, mobile equipment maintenance and operation for operators, non-operators and contractors.

Our Risk Engineers are located worldwide and conduct all levels of risk assessment surveys, loss control inspections and desk-top reviews that help analyze the unique exposures associated with all aspects of upstream energy. This includes reviewing operations beginning with Well Plan reviews on all aspects of onshore and offshore drilling through evaluation of large valued fixed and mobile assets exposed to natural catastrophe, business impact analysis and all risk perils around the globe.


More Information

To learn more about AIG's capabilities in this field, please email Ben.Shannon@aig.com

Related Documents

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Risk Appetite & Claims