Fuel & energy industry is one of the most complicated in today’s world. Production, refining, transportation and sales of oil & gas are the source for various derived industries. The existence and performance of modern international community is inconceivable without mentioned natural resources.

Each stage of oil & gas industry is conjugated with risks and dangers. Geological surveys require special equipment, capital and labor investments. The drilled test borehole in offshore depth can either turn out dry, or the amount of oil & gas explored may not be sufficient or profitable for further project development. The oil well drilling in offshore or in regions difficult of access (such as Russian or Canadian northern regions) also can lead the project to risk category.

Different world regions are dependable on weather conditions. Frequent natural cataclysms make all the peculiarities of very region as extremely important factor in process of oil & gas fields’ facilities construction. Dependence on weather conditions must always be taken into account. Notorious hurricanes “Katrina” and “Rita” have damaged energy infrastructure and caused massed casualties in the Mexican Gulf region in August-September 2005 so hard, that reconstruction still goes on.

Oil & gas industry risks are obviously extremely high. All parties involved and interested in their activity maintenance and development cannot disregard it. Specific character of such risks is not just the frequency but the scale of insured accidents. Each damage in oil & gas industry brings various third-party injuries (adjacent plants or suburbs, personal injuries, pollution or chemical contaminations) along with inventory losses. Insurance programs in these situations are not limited by damages cover. The insurer participates in each risk assessment, consults on risks improvement and takes part in insurance adjustment with appointment of independent professional companies. Successful risk management is the basis of effective oil & gas industry activity.