Non-Life Marine Platform SI

Overview

Article 130 prepares the offshore platform sum insured from the main loss components relevant to a platform explosion event.^[1]

Input Terms

• Property Damage SI: Sum insured for property damage exposure on the offshore platform.^[1]
• Wreck Removal SI: Sum insured for wreck removal exposure on the offshore platform.^[1]
• Production Income SI: Sum insured for production income exposure on the offshore platform.^[1]
• Well Capping and Security SI: Sum insured for well capping and security exposure on the offshore platform.^[1]
• Liability SI: Sum insured for liability exposure on the offshore platform.^[1]

Technical Rationale

Article 130 treats platform explosion as a multi-component insured-value event because the same catastrophe can damage property, interrupt production, require wreck or well-control response, and trigger liability losses. Keeping those components visible preserves the evidence behind the platform exposure amount.