Excess Liability Forms: Occurrence; Occurrence First Reported; Claims Made; Follow Form AEGIS
Maximum Limit: USD 75,000,000 (Occurrence First Reported; Claims Made; Follow Form AEGIS)
USD 25,000,000 (Occurrence)
Maximum Limit: USD 25,000,000
Excess Direct and Facultative Property
Maximum Limit: USD 50,000,000
OCIL Provides both facultative and treaty reinsurance coverage to ceding companies.
- Excess of Loss
- Aggregate Stop Loss
- Quota Share
- Industry Loss Warranty
Shareholder & Policyholder Options
Only energy companies purchasing insurance from OCIL have the option of being a Shareholder. To be a Shareholder, an energy company must purchase one share of common stock in OCIL for $5,000. In return Shareholders accumulate dissolution and voting rights in OCIL.
Shareholders have no financial obligation beyond the premium charged for their individual risk.
Class 3B Bermuda Insurer
A.M. Best Rating: A-
Foreign Currency Policies
OCIL has the ability to provide policies in GBP, CAN$, EURO, AUS$, US$
NOTE: Oil Casualty Insurance, Ltd. (OCIL) is a licensed insurance company in Bermuda only. OCIL policies are underwritten and bound in Bermuda. Any party wishing to inquire about insurance products offered by OCIL must contact OCIL through a non-US broker.