ERIS

Control of Well/Operators Extra Expense Risks and Insurance

Course Details

price
$149.00
This course is not subject to discount pricing.

Additional Credit Available:

Add AFIS Renewal Credit
Add CRIS Renewal Credit
Add MRIS Renewal Credit
Add MLIS Renewal Credit
Add TRIP Renewal Credit
Add Insurance CE

Delivery Method: 

QAS Self-Study

PDF Download: 

Available

Provider of Record: 

WebCE

Field of Study: 

Specialized Knowledge

Prerequisites: 

None

Access Period:

12 months

Exam Requirements

Proctor Required: 

No

Passing Grade: 

70%

Questions: 

50

Retakes: 

Unlimited

Please note: Adding Additional Credit may change exam requirements.

Overview

As long as there are oil wells there is a potential for well control problems. This course provides a review of the physical characteristics of a well, emphasizing the factors that can lead to a blowout and the features designed to prevent or control blowouts. Fortunately, insurance exists to address the monumental expenses that result when a blowout or other well control event occurs.

The course provides an in-depth review of the types of the insurance coverage available to cover the costs and expenses associate with a well blowout, including a review of the three main insuring agreements, typical conditions and warranties, and additional coverages often available by endorsement to expand or limit coverage. The course concludes with a case study of an actual blowout. 

Learning Objectives

Upon completion, students will be able to:

  • identify the elements that make up the anatomy of a well and the techniques used to drill a well
  • identify the well drilling characteristics and techniques that are designed to maintain control over a well and prevent or control blowouts
  • recognize the structure of a typical well control policy and the coverages, limitations, exclusions, and key issues associated with control of well, extra expense and seepage, pollution, and contamination coverage
  • recognize the coverage added by the adoption of optional coverages or endorsements

Designed For

Property and casualty risk, safety, insurance, and finance professionals

International Risk Management Institute, Inc. (IRMI) is the premier provider of risk and insurance continuing education and reference publications, and is considered the ultimate authority by leading insurance practitioners. Written by industry experts, IRMI courses provide the most up-to-date, practical and reliable information possible.

Advanced Preparation

None

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