What We Do
Management Services
The Coverholder is fully administered by Trust Re under a servicing contract which provides underwriting, claims management, reporting and infrastructure.
Trust Re is a reinsurance company based in the Kingdom of Bahrain. With authorised capital of US$ 500 million and issued and paid up capital of US$ 250 million, Trust Re earned its recognition as a solid and reliable security through its long term professional commitment to the Insurance & Reinsurance Industry. It writes both life and non-life business on a Facultative & Treaty basis with a wide scope of geographical operation that includes: Africa, Asia, Russia, the Former Soviet Union (FSU) countries and the Middle East and North Africa (MENA) Region.
Underwriting
Energy
Onshore
- Construction
- Control of Well/Operators Extra Expenses
- LNG(Liquefication/Regasification) plants
- Oil & Gas refineries
- Onshore Rigs
- Operators Extra Expenses
- Petrochemical Plants
- Pipelines
- Terminals
Offshore
- Construction
- Control of Well/Operators Extra Expenses
- Drilling Units
- Energy/Operators/Contractors packages
- FPSO/FSO & FLNGs
- Operators Extra Expenses
- Pipelines and Subsea Assets
- Platforms
- Single Point Mooring (SPM) or Single buoy Mooring (SBM)
Underwriting Capacity
- Energy Onshore: up to US$ 75 million
- Energy Offshore: up to US$ 75 million
Engineering
We provide cover for Facultative Risks in the following subsections of engineering:
Energy Onshore Construction
- Fertilizer Plant
- Liquefied Natural Gas (LNG) Plants & Terminals
- Oil, Gas & LNG Terminals
- Oil & Gas including Refinery, Tank Farms and Terminals
- Petrochemical Complex
Industrial and Manufacturing Risks
- Industrial and Manufacturing Risks like Steel, Aluminium Smelters, Chemical & Cement factories
- Power (Thermal, Gas and Combined cycle)
Product Range
- Contractor's Plant and Machinery
- Erection All Risk Insurance
- First year operational/Business interruption
- Principals Advance loss of profits/Delay in Startup
- Third Party Liability
Underwriting Capacity
Engineering: up to US$ 75 million
Alternative Energy
We provide cover for Facultative Risks in the following subsections of green energy:
- Biofuel / Biomass Energy
- Fuel Cell Energy
- Geothermal Energy
- Hydro-electric Energy
- Solar PV (Onshore/Offshore) and solar CST Energy
- Waste to Energy
- Wind Energy (Onshore/Offshore)
More specifically, the following coverages are provided:
- Construction/Erection all risks
- General third party liability
- Marine and/or inland transit
- Physical loss and/or damage
Operational
- Business interruption/contingent business interruption
- General third party liability
- Physical loss or damage
Underwriting Capacity
Alternative Energy: up to US$ 75 million
Property
We provide property and business interruption insurance for a huge range of industries which includes manufacturing, food, distribution, technology and transport.
- Chemical
- Commercial
- Fertilisers
- Food
- Industrial
- Manufacturing
- Power/Construction
- Residential
- Technology
- Transport
Underwriting Capacity
Property: up to US$ 75 million
Specialty and Affinity Lines
Our Specialty line consists of the following products:
Political Violence (PV)
- Event cancellation related to terrorism or full political violence
- Insurrection, Revolution or Rebellion Mutiny, Coup d'Etat
- Terrorism Political Violence ( S&T, SRCC, MD, War & allied perils)
- Political Risk (CEND)
- Political Violence/Terrorism related liabilities
- Third Party terrorism liability
Cyber Liability
- Data Breach Incident response costs
- Network Security, Privacy and Data Breach Liability
- Regulatory Liability
- Payment Card Industry (PCI) fines and assessments
- Data Restoration
- Cyber Extortion
- Media Liability
Affinity
- Affinity Packages
- Auto Warranty
- Brown & White Goods
- Guaranteed Asset Protection (GAP)
Underwriting Capacity
- Political Violence: up to US$ 20 million
- Cyber: up to US$ 10 million
- Afinity: up to US$ 5M
Health & Life
Our Health & Life capacities are as follows:
Group Life
- Up to US$ 5M (max per life)
Credit Life
- Up to US$ 5M (max per life)
Individual Life
- Up to US$ 5M (max per life)
Treaty Business
Our Treaty Business capacities are as follows:
Non-Marine Business
- Up to US$ 4M Proportional
- Up to US$ 7.5M Non-Proportional
- Up to US$ 7.5M combined per program
Marine Business
- Up to US$ 2.5M Proportional
- Up to US$ 5M Non-Proportional
- Up to US$ 5M combined per program
Motor Business
- Up to US$ 5M
