Oil Casualty Insurance, Ltd. (OCIL) was incorporated under the laws of Bermuda on May 14, 1986. The Company holds a Class 3B license under The Insurance Act 1978.
To be a recognized expert and provider of reliable risk transfer solutions for the global energy industry.
To provide substantial excess liability limits to Shareholders over the longer term with excess liability and property coverage on terms comparable, or better, than conventional energy insurance market and to provide experienced, prompt and friendly claims and underwriting services.
Diversity and Inclusion
OCIL is committed to a diverse and inclusive workplace that encompasses varied backgrounds and experiences, while fostering a respectful environment that acknowledges and welcomes individual strengths and contributions.
The direct insurance business written includes excess lines of property and casualty insurance including: liability, property, marine, hull, cargo, protection & indemnity, directors and officers liability, employment practices liability and fiduciary liability. Many of the above can be written on follow form occurrence, claims made or occurrence first reported policies.
The reinsurance business written includes property and casualty and management liability coverage. Treaties currently written include excess of loss, aggregate stop loss, industry loss warranty and quota share.
OCIL, is rated A- “Excellent” by A.M. Best. Please refer to financial rating section for more information.
Anti-Bribery and Anti-Corruption
Oil Casualty Insurance Limited and its subsidiaries (“OCIL”) have a zero tolerance policy towards bribery and corruption and are committed to the highest levels of openness, integrity and accountability. It is OCIL’s policy to conduct all of its business in an honest and ethical manner. Bribery is the offer, promise, giving, demanding or acceptance of an advantage as an inducement for an action which is illegal, unethical, a breach of trust or the improper performance of a contract. Inducements can take the form of gifts, fees, rewards, jobs, internships, examination grades, favours or other advantages. Corruption is the misuse of entrusted power for personal gain. Corruption may include many activities including bribery and embezzlement. It may also involve practices that are legal in some countries. It is an offence for an employee, officer, director or any person acting on behalf of OIL (including consultants, agents, suppliers, third parties) to carry out an act of bribery or corruption, directly or indirectly, relating to the OCIL’s business, irrespective of where the act takes place.