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OAMPS Insurance Protects Against Worst Case Scenarios

By Andrew Dear, business development director, OAMPS (UK) Ltd

Everybody hates paying for it and it’s not exactly an interesting subject but, if the worst happens, you’ll be happy you didn’t ignore it.

The problem with insurance is that no one wants to think it may happen to them. But, as an insurer, OAMPS has to think about worst-case scenarios and give its clients the options available to protect against them.

OAMPS was originally started in Australia in 1976 as the Oil Agents Mutual Provident Society by fuel distributors who were fed up with the attitude of the insurance industry to their sector. Success followed and, in the mid ‘80s, OAMPS came to the UK and followed the same business model of developing close ties with trade associations for the sectors they specialised in. In fact, OAMPS has been appointed insurance manager to UKLPG for a number of years now, giving advice to the association on any insurance related issues, as well as insuring a number of members.

And it’s not just lp gas suppliers that need specialist advice, but anyone involved in the lpg sector, whether that be tank or cylinder manufacturing, hose and pipework manufacture and installation, distribution and deliveries or specialist equipment supply. Every company working within the lpg gas industry is subject to certain risks that need the expertise and experience of an insurer who has worked within the gas sector for many years.

Trade association endorsement gives us credibility with the industry, which is not something we take lightly. There are very few compulsory insurance covers that a company has to take out in order to trade legally. That means everything else is a commercial decision.

At OAMPS Petrochemical, we believe in providing our clients with the possibilities available to transfer the risks they have. Some of these may be insurance backed, some involve more risk management and training. It depends on the individual company requirements.

We give professional advice and explain the consequences of not taking out certain covers. But, at the end of the day, it is the client who decides what they want and what they want to pay for. We are here to help, to be a partner, not to dictate.

Whether gas, oil or chemicals, OAMPS Petrochemical has always been involved with hazardous goods, an area most insurers would stay away from. But we have seen over the years that, in most instances, the perception is worse that the actual risk. There are claims – some very large ones that hit the news – but most of the time, industry is aware that prevention is better than cure.

We are there as a backup to make sure that, if prevention doesn’t work and disaster strikes, everything is sorted out quickly and efficiently. That’s why we have our own in-house environmental and training companies. With OHES Environmental Consultancy and ORS Risk Management, OAMPS Petrochemical clients don’t have to rely on insurance contractors from outside the industry.

We are there with training to improve prevention but, if a claim occurs, we are there to remedy the situation. By the time other insurers, the Environment Agency or Health & Safety Executive arrive, we are normally finished or at least well under way. Along with the OAMPS Petrochemical claims department, all aspects of any event, from initial report to final settlement, are dealt with in-house by claims handlers experienced in hazardous incidents. Over 75,000 claims have been settled satisfactorily since we started, so we doubt anything will happen that we haven’t seen before.

OAMPS Petrochemical is proud of its place as market leader and appointed insurance manager to various trade associations. As well as UKLPG, we have similar agreements with the Federation of Petroleum Suppliers, UKSpill, the Oil Recycling Association, the Chemical Recycling Association and the Hazchem Network. Also, close working relationships with other trade bodies, such as the Chemical Industries Association, keeps OAMPS Petrochemical at the forefront of insuring the hazardous goods sector.

Insurance may still be seen by some as boring and a necessary evil but, in these changing and challenging times, having someone solid and dependable behind you when things go wrong may not be such a bad thing.

Contact OAMPS (UK) Ltd on 01372 467266 www.oamps.co.uk

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