Control of Well/Operators Extra Expense Risks and Insurance

Overview

As long as there are oil wells there is a potential for well control problems. Fortunately, insurance exists to address the monumental expenses that result when a blowout or other well control event occurs. This course reviews well control problems, emphasizing factors leading to blowouts and prevention features. It covers insurance options for blowout expenses, including main insuring agreements, conditions, warranties, and additional coverages. The course concludes with a case study of an actual blowout. 

Find this course for your license


License or Certification 

 

Regulator 

 

Type 

 


Objectives

  • identify the elements that make up the anatomy of a well and the techniques used to drill a well
  • identify the well drilling characteristics and techniques that are designed to maintain control over a well and prevent or control blowouts
  • recognize the structure of a typical well control policy and the coverages, limitations, exclusions, and key issues associated with control of well, extra expense and seepage, pollution, and contamination coverage
  • recognize the coverage added by the adoption of optional coverages or endorsements

Designed For:

Property and casualty risk, safety, insurance, and finance professionals


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International Risk Management Institute, Inc. (IRMI) is the premier provider of risk and insurance continuing education and reference publications, and is considered the ultimate authority by leading insurance practitioners. Written by industry experts, IRMI courses provide the most up-to-date, practical and reliable information possible.

Course Information

Adding additional credit may change exam requirements.

Advanced Preparation: None