A single gap in your insurance programme can void your contract eligibility or result in immediate termination. This checklist covers every insurance requirement typically demanded by operators in Guyana's energy sector, with guidance on limits, endorsements, and COI requirements.
⚠ Send us the insurance requirements section of your contract before you sign anything. We review every clause and identify every coverage requirement before you are committed. Changes after signing are significantly more difficult to negotiate.
ⓘ Contracts from ExxonMobil, Hess, SBM, and other major operators in Guyana follow standard wording but with specific variations. We have reviewed many of these contracts and know the requirements well.
The following coverage types are typically required for contractors working in Guyana's energy sector. Limits may vary by contract — always confirm specific requirements against your contract wording.
⚠ Policy limits must be stated in USD for most energy sector contracts in Guyana. Policies denominated in GYD will not satisfy contract requirements.
The Certificate of Insurance (COI) is the document that proves your coverage to the operator. Getting it right is as important as having the right coverage — an incorrectly worded COI will be rejected.
ⓘ Keep copies of all COIs for the full contract term plus three years. In the event of a claim after contract completion, you may need to demonstrate that coverage was in place at the time of the work.
⚠ Insurance coverage placed directly with a non-admitted (foreign) insurer without using a Special Broker's Licence holder violates the Guyana Insurance Act and will not satisfy contract requirements. All coverage must flow through a locally registered broker.
These are the most common reasons contractor insurance programmes fail compliance review by operators in Guyana. Address each one proactively.
ⓘ Submit your COI for broker review before submitting to the operator. We review every COI we issue for compliance with the specific contract requirements before it leaves our office.