The British Drilling Association (BDA) has joined forces with specialist insurance intermediary Genesis Risk Solutions to offer members a range of dedicated insurance products at discounted rates.
According to the BDA, the Lloyd’s of London underwritten scheme is an important milestone for the drilling industry as its members will now have access to comprehensive insurance that has previously been denied due to the high risk nature of the work.
In the past working in hazardous locations or undertaking high risk work may have been excluded from insurance or have attracted high cost premiums. This new agreement will give BDA members access to insurance for contract works, plant and machinery, tools and goods in transit, employers and public liability, motor fleet, professional indemnity and commercial property and business interruption.
“We are delighted to be working with the British Drilling Association and are particularly pleased that we are able to offer members an affordable and purpose-built insurance product,” said Genesis managing director Gavin Cheeseman.