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| Oil Platfrom |
Oil and gas industry is a complex industry with the need of huge funds and involve high technology. Because it is so, then the risks faced by this industry is also very diverse and high. Companies face the risk of physical or legal responsibility (operational risks) when doing the activities and financial risk (financial risk) that would occur if it turned out to contain oil / gas is expected judged uneconomical (speculative risks).
Activity in the oil and gas sector despite having the characteristics of "relatively low frequency of occurrence of loss" but "a high potential of loss" and if an incident would lead to "the amount of loss (severity), a very big" and often fatal.
One way to overcome the high level of risk faced is the presence of process safety management system which ensures that the oil industry facilities have been designed and operated with due regard to safety aspects. This is implemented by the unit that handles the Health, Safety and Environmental (HSE). Insurance is one method of risk management (pure risk) for Operators of Oil and Gas, in dealing with operational risk (operational risk) that can interfere with corporate finance. But in her insurance, dispute inevitably occur between the insured and the Insurer which is caused by factors, among others:
