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

HAMILTON, Bermuda, March 13, 2013 /CNW/ - 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 [email protected] .

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 (OIL)

Further inquiries regarding this press release should be directed to Barry Brewer, VP Marketing [email protected] [phone].