The Study Of Mobile Offshore Drilling Units Insurance

According to statistics,offshore oil production accounted for half of the world oil production at the end of the last century.Therefore compared with the trend of increasing depletion of the land-based oil exploration,offshore oil industry has become a high input,high efficiency industry.At the same time,mobile drilling platform becomes an indispensable device during offshore oil exploration and exploitation.However,oil exploration and production in the sea has to meet more dangerous than on the land.It is natural that market needs some risk-sharing measures. As the rapid development of the offshore oil exploration and exploitation,professional insurance that related to this subject is of great importance.In this article,depth understanding of drilling barge all risks and improving of the insurance system of mobile platform are two fundamental problems to be solved.This paper,first introduced the background of the emergence of this particular insurance, and defined the characteristics of the mobile offshore drilling units insurance.Then,it analyzes the format terms of this insurance,using the basic principles of maritime law and insurance law,as well as the drilling barge all risks of the people's insurance company(group) of china.Though there are only 19 terms of the drilling barge all risks of the people's insurance company(group),it is complex and also different from general property insurance due to the technical factors.This is mainly manifested in the following aspects:the property insured and the parties insured are diversified;the sue and labour expenses have particular limitation;the parties insured is required to adhere to the principle of utmost good faith,and compliance with the navigational limits,lay up warranty as well as blow out preventer warranty;the principle of compensation to the insurer is based on replacement value;valued polity used Widely; special principle such as conditional waiver of subrogation rights has been accepted practice widely in the marine oil industry insurance,and so on.Finally,it defined the applicable insurance laws and regulations by clarifying the legal nature of the mobile drilling platform.Besides,to draw on the experience of advanced foreign countries, the paper also sums up the insurance problems that exist in practice,and suggests the amendments of drilling barge all risks.