![]() ![]() The onshore structure may constitute a business establishment for the purposes of risk location. Onshore liability insurance covers the liabilities of operators of onshore structures and property or contractors working on them. If the onshore property is situated in more than one territory there will be multiple risk locations. oil refineries, wind turbines, processing plants and pipelines, is the territory in which the property is situated. The risk location for immovable property, i.e.Onshore property insurance covers losses arising from physical damage to onshore structures and property and may include business interruption. If more than one business establishment is covered, then each may individually create a risk location. The risk location is the territory in which the insured’s business establishment is located. The offshore structure may constitute a business establishment for the purposes of risk location. Offshore liability insurance covers the liabilities of operators of offshore structures or contractors working on them, including liabilities arising from pollution incidents. Where the moveable property’s location is uncertain or variable, the risk location is the territory in which the insured’s residence or business establishment is located. ![]() If the contract covers moveable property situated in more than one territory there may be multiple risk locations. The main exception to this rule is in the EEA where the regulatory risk location for moveable property is the territory where the insured is resident but the tax risk location remains the location of the moveable property. In most territories, the risk location is where the moveable property is normally situated.Consequently, if the insured property is in a different territory from the insured’s residence or business establishment, there are two territories for regulation and tax. Please note: In some territories, the location of the insured’s residence or business establishment creates a risk location irrespective of the physical location of the insured property. If the policy insures offshore property at more than one location, and those locations are in more than one territory’s waters, there will be multiple risk locations. oil rigs fixed to the sea bed, oil wells and pipelines, is the territory in which the property is situated (territorial waters). Offshore property insurance provides cover for losses arising from physical damage to structures located offshore and may include business interruption. Production vessels hull and liability Offshore property The location of the insured’s business establishment(s).The physical location of the property and. ![]() To identify the territory of regulation and tax of an energy risk consider: ![]()
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