Last updated on April 18, 2014 at 1:21 EDT

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

March 13, 2013

HAMILTON, Bermuda, March 13, 2013 /PRNewswire/ –

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
karen.skinner@oil.bm .

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

Source: PR Newswire