Insurance - Subsea

Following many years of a close working partnership, Leviathan became part of the Beazley Group in August 2016. Beazley Leviathan is a specialist insurance underwriting facility created to understand, and provide bespoke but broad cover to, the subsea industry. With the emphasis on physical damage risks, we also provides cover for third party liability and associated hull risks.

Activities insured

The recent growth in subsea activity in the world's oceans and waterways falls broadly into four categories:

Surveys of the water column, seafloor and strata below the seabed by use of towed or static equipment.

Construction, operation and maintenance of subsea installations using equipment that can be manned or unmanned, autonomous or remotely operated.

Recreational or scientific activity using manned vehicles or data recording devices.

Generation of renewable energy by way of tide or wave machines.

The range of equipment and vessels now at work in the subsea environment is considerable and Beazley Leviathan currently underwrites equipment and hulls involved in all of the above activities, both for the subsea and surface elements, whilst:

Being deployed and recovered
Operating
On board vessels or rigs
In transit to and from operations, by road, rail, air or sea
At home base
During maintenance
In storage.

Thus providing seamless and comprehensive insurance cover.

Examples of items underwritten

Remotely operated vehicles (ROVs), work class, survey class
Autonomous underwater vehicles (AUVs)
Hybrids
Trenchers
Ploughs
Diamond mining tools
Oceanographic survey equipment - buoys, towed sonars, cameras, sampling units
Remote and autonomous surface survey vehicles
Developmental vehicles - manned and unmanned
Seismic streamers - towed, including sources
Ocean bottom seismic equipment
Diving equipment - suits, hats, umbilicals, SCUBA, diving bells, saturation environments, one atmosphere diving suits (commercial contractor operations and professional expeditions only)
Diving contractors' equipment - hydraulic tools, welding equipment
Renewable offshore power generation equipment - wave and tidal
Manned submersibles - private, tourist, research, intervention
Underwater viewing environments
Hulls associated with the deployment and support of the above equipment, for example diving support vessels and survey vessels
General third party liabilities associated with the above.

Key territories

Worldwide