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Coverage for oil and gas industry introduced

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Willis Towers Watson said Wednesday that it has launched Risk Protect, an insurance and risk management product for companies that serve the global oil and gas industry.

Risk Protect is an insurance policy wording, underwritten by Chubb Ltd., which addresses risks in the oil and gas sector, including cyber security, supply chain interruption and terrorism, Willis Towers Watson said in a statement.

The policy offers coverage for employer’s liability, public and products liability, property damage, and business interruption insurance, according to the statement.

“Risk Protect helps businesses control their costs without increasing their exposure to regulatory, safety and environmental concerns. It is designed to protect businesses in the long term, helping them overcome a variety of significant challenges wherever they operate in the world,” Rosemary Wilson, Willis Towers Watson’s regional director for Scotland, said in the statement.