Insurance seminar ends on high note

The Marsh/P&P Insurance Seminar on Oil and Gas concluded Thursday Afternoon at the Pegasus Hotel.

During three days of intensive training sixty-one attendees drawn from the Insurance Industry, The Insurance Regulator, The Environmental Protection Agency and the Department of Energy were introduced to the peculiar intricacies of oil and gas insurance.

The agenda included an overview of Company Energies and Insurance Market, Risk Identification and Evaluation, Drilling Risk and Control of Well, Upstream and Downstream Liabilities, Offshore Construction, Upstream Operational Insurance, Offshore Business Interruption (LOPI), Energy Policies Wordings and Claims, FPSO Insurance, Risk Management and Downstream Operational Insurance.

The course was led by senior executives drawn from Marsh’s London Energy Practice.

In closing remarks, Mr Guy Cowan, Senior Vice President of Marsh Energy London, said that he was very pleased with the success achieved over the three days.

In particular, he cited not only the punctuality and timeliness of the attendees but he alluded to their attentiveness, their participation in discussions, and for the searching questions they asked.

Mr Cowan said that from their interaction and the questions asked he had no doubt that participants came well prepared for the course.

In response, Mr Bish Panday, Chief Executive Officer of P and P Insurance, who arranged the course and who himself was a participant, thanked Marsh on behalf of all the other participants.

Mr Panday said he was happy that Marsh was able to come to Guyana and bring four of their leading Energy Brokers to share their knowledge not only with the insurance industry but other stakeholders. He said the course was highly beneficial and will help to prepare the Insurance Industry to deal with this new and emerging Industry.

The seminar concluded with a cocktail reception attended by several Dignitaries including the British High Commissioner His Excellency Mr Greg Quinn, the Deputy Governor of the Bank Mr Leslie Glen, and the Head of The EPA Dr Vincent Adams. (Press release by P&P Insurance Brokers and Consultants Ltd)