Onshore Energy Conference — Dubai Onshore Energy Conference — Dubai 01 | Page 27

ENERGY MATTERS

However, these changes often lead
to further questions such as:

Does the policy’s use of the word
“affected” mean “financially affected”
or “physically damaged”?
Does the policy consider contractual
forced outage allowances which the
insured can use to negate financial loss
during its self-retained waiting period
while leaving nothing for the insurers?
If the policy states “60 days” as
the deductible, does it refer to a
waiting period or an ADV?
What happens if the interruption
is shortened as a result of ICW
being incurred? Should the
ADV deductible increase?
How do you deal with ICW incurred
during a waiting period?

Because the financial difference between
various interpretations can vary greatly,
it’s important for underwriters and claims
handlers to work with professionals who can
alert them to potential issues and pitfalls.
To learn more about the potential effects these
items can have on a net claim, please join
Daniel Thorpe of MDD Forensic Accountants
on May 18 at the Onshore Energy Conference.
Contact Daniel at [e-mail]
for more information.
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