Oil Insurance Limited Launches On-Line OTA (Oil Technical Accreditation)

AsiaNet 52409

HAMILTON, Bermuda, Mar. 14, 2013 /PRN=KYODO JBN/ --

     Oil Insurance Limited (OIL) announces the launch of the OTA (Oil Technical

Accreditation), OIL's innovative on-line technical accreditation course for

members and global energy brokers.

    The OTA is OIL's first ever energy insurance web-based interactive training

and accreditation tool for energy company risk managers and their brokers. OIL

members and their global energy brokers will gain both a basic working

knowledge of what OIL is as well as a technical understanding of how the OIL

system works. In the first few weeks since the launch of the OTA, over 250

members and brokers have registered. Earning an OIL Technical Accreditation

(OTA) will enable a new level of understanding of OIL's Rating and Premium Plan

and the related value to members and prospective members. The course takes four

to six hours to complete.

    COO George Hutchings commented, "The OTA will enable energy brokers around

the world to "speak" the language of OIL. OIL members will also benefit as

their risk management teams will now develop a more comprehensive understanding

of the benefits and options available by leveraging OIL's cornerstone capacity.

Today's energy clients expect their brokers to have the ability to discuss

mutual insurance options as well as those provided by commercial markets. By

acquiring an OIL Technical Accreditation, brokers will be in a position to

deliver needed commercial market / mutual insurance value comparisons and a

broader view of available risk management options".

    OIL CEO Robert Stauffer stated, "In my previous role as Risk Manager for a

large US energy group, I observed first-hand how few energy brokers actually

understood the OIL program and more importantly, the true value it provided to

its members in the energy industry. Today, we have the ability to leverage new

learning tools to help brokers grow their knowledge and speak the "language" of

OIL. The OIL Technical Accreditation (OTA) training course leverages the latest

e-learning tools, enabling brokers to expand their energy client knowledge and

value through an engaging and challenging four module multi-media web

experience".

    Access to the OTA is only offered to current OIL members and global energy

brokers by applying on-line at http://www.oil.bm/ota. Other parties interested

in taking the OTA should specifically request access from Karen Skinner via

email at karen.skinner@oil.bm .

    Oil Insurance Limited (OIL) insures over two trillion dollars of global

energy assets for more than fifty members with property limits up to $300

million totaling more than eleven billion dollars in total A- rated property

capacity. Members are medium to large sized public and private energy companies

with at least $1 billion in physical property assets and an investment grade

rating or equivalent. Products offered include Property (Physical Damage),

Windstorm, Non Gradual Pollution, Control of Well, Terrorism, Construction and

Cargo. The industry sectors that OIL protects include Offshore and Onshore

Exploration & Production, Refining and Marketing, Petrochemicals, Mining,

Pipelines, Electric Utilities and other related energy business sectors.

    SOURCE: Oil Insurance Limited