• "Stress testing" of policy wordings

• Insurance claims

• Engineering support

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Pre-loss

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The effectiveness of policy wordings often only becomes apparent in the event of a loss. Trident’s strengths lie in interpreting the complex policy terminology associated with oil & gas insurance contracts.

In a pre-loss capacity, when analysing existing policy wordings, we are able to run hypothetical claims scenarios to ensure a client’s current insurance arrangements are fit for purpose in the event of a loss.

When conducting such policy “stress testing” we also seek to ensure an effective interface exists between our clients’ insurance contracts & their other contractual arrangements.

 

Post-loss

Settlement of a claim may have been delayed or declined, in whole or in part. If so, we are able to provide a formal written opinion as to the merits of the claim. Via a simple Letter of Authority, Trident can represent the claimant in negotiations with insurers & their representatives, thus seeking to avoid protracted & costly litigation.

Trident can also be appointed in a pro-active capacity at the time of the first notification of a loss. This enables us to work with our clients to manage the entire claims process from first advice to final settlement.

We aim to engage in open discussions with underwriters’ loss adjuster, as the facts of a case are being developed. In particular, we seek to work with our clients to convert their financial statements of loss into formal Claims Adjustments, by identifying the relevant policy clauses & allocating the sums recoverable under each clause.

Engineering Support

Our team includes a Chartered Engineer with over 45 years of experience in the oil & gas industry.

 

In a pre-loss capacity, this enables us to offer clients support by providing: risk reviews; risk analysis reports; business interruption studies; & Estimated Maximum Loss calculations.

In a post-loss capacity, our engineering consultant can work alongside our clients to offer guidance & support in relation to remedial action strategies. We are also able to offer clients assistance with the preparation of their financial statements of loss.​​​​