ProtectingCriticalEnergyAssets
Energy operations depend on infrastructure that is expensive to replace and costly to operate without. An equipment failure, fire, explosion, construction incident, or pollution event can affect production, disrupt projects, and expose businesses to substantial liabilities.
Oil & Gas Insurance helps protect against these risks by providing cover for physical assets, operational exposures, and legal liabilities arising from energy-related activities. Our solutions are structured to support organisations across the oil and gas value chain, helping them manage risk while maintaining operational resilience.
Twospecialistproductsforenergybusinesses
Choosethepolicyforyourproject,facility,orcontractorneeds.
Construction All Risk Insurance
Provides cover for contract works, construction plants, equipment, and machinery used during construction projects.
This may include protection against:
Accidental damage
Construction-related losses
Site risks
Third-party liabilities
Erection All Risk Insurance
Provides protection during the installation and commissioning of:
Cover may include liabilities relating to:
Industrial plants
Machinery
Steel structures
Processing equipment
Plant All Risk Insurances
Provides protection for operational machinery and equipment against loss or damage resulting from insured external causes.
Cover may include:
Fire and explosion
Impact damage
Burglary
Accidental damage
Associated legal liabilitie
Machinery Breakdown Insurance
Provides indemnity for repair or replacement costs resulting from sudden and unforeseen mechanical breakdown of insured equipment. This helps minimise downtime and reduce the financial impact of operational interruptions.
Oil&GasInsuranceissuitablefor:
Exploration and production companies
Offshore operators
Drilling contractors
Oilfield service companies
Exploration and production companies
Offshore operators
Drilling contractors
Oilfield service companies
WhatDoesOil&GasInsuranceCover
Dependingonthepolicyselected,covermayinclude:
Oil rigs and offshore platforms
Flow stations and processing facilities
Farm tanks and storage facilities
Cryogenic vessels
Operational equipment and machinery
Employer liabilities
Employee welfare-related exposures
Operators' extra expenses
Gas terminals and other insured assets
Why Businesses Choose NEM Insurance
Over 75 years of insurance expertise
More than ₦36 billion paid in claims over the last decade
Deep understanding of commercial and operational risks
Experienced underwriting and claims teams
Nationwide service and broker support
Over 75 years of insurance expertise
More than ₦36 billion paid in claims over the last decade
Deep understanding of commercial and operational risks
Experienced underwriting and claims teams
Nationwide service and broker support
Frequently asked questions
Oil & Gas Insurance provides protection for assets, operations, equipment, and liabilities associated with petroleum and energy-related activities.
Depending on the policy structure, cover may include pollution-related liabilities, clean-up costs, well-control expenses, and third-party claims arising from environmental incidents.
Yes. Construction All Risk and Erection All Risk covers can be arranged for qualifying projects.
Notify NEM Insurance as soon as possible following an incident and provide the required supporting documentation. Our claims team will guide you through the claims process.