Weather Downtime Protection
Strong winds, heavy seas: weather conditions bringing offshore operations over the scheduled time, resulting in additional costs for labour and use of equipment. Covering these cost overruns is now an insurable risk with Intramar’s Weather Downtime Protection (WDT) cover. Before the work starts, criteria like specific weather conditions (eg. wind, wave height, current) that impact on the employability of people and equipment will be determined. These determined daily costs will be the basis for payment. Actual support from specialists is available to precise the required parameters.
After completion of the work, the overrun of time will be calculated, expressed in the number of days lost by the predetermined criteria. The cover provides direct right to compensation for the fixed amount per day which is lost through bad weather. Not only contractors can improve their competitiveness by using this methodology – customisation per project – but also for principals this is a very effective tool to achieve cost control in construction, inspection, repair and maintenance projects of offshore installations and structures.
This protection against failure due to weather conditions will be accommodated with one of the most solvent insurance companies in the world.