The Group has taken out several insurance policies in order to offset the financial consequences of materialised risks. The main policies cover both property damage and operating losses as well as civil liability.

Specific policies have also been put in place for the Group’s newly-developed businesses.

Finally, the Group has also taken out a policy covering its General Managers’ civil liability.

Insurance programmes are taken out with leading international insurers and reinsurers. The Group believes that these programmes are suited to the potential risks tied to its activities. However, the Group cannot guarantee that in the event of a claim, and an environmental claim in particular, all financial consequences will be covered by insurance. The Group also cannot guarantee that it will not suffer any losses that are uninsured.

International programmes taken out by Rubis Énergie on behalf of itself and its subsidiaries have been renewed with leading insurers.

The “All Risks except” policy was renegotiated for one year with modified guarantees and a significant increase in premiums.

The Damages guarantee in the event of fire and similar events provides compensation in the amounts of €200 million per claim for terminals and €15 million per claim for service stations. This contractual limit was calculated on the basis of the maximum amount of possible loss.

Our exposure to natural events, particularly in the Caribbean, is covered in the amount of €15 million per claim and per event.

As the deductibles for natural events have increased, a parametric hurricane insurance policy has been set up covering sites in the Caribbean, with compensation capped at €5 million.

In compliance with local laws, for subsidiaries located outside the European Union, Rubis Énergie’s international programme is taken out from our lead insurer’s local network. Rubis Énergie’s policy provides coverage where there are differences in terms and limits.

Rubis Énergie’s programme covers operating liability and post-delivery liability. Coverage amounts to €150 million per claim, all damages included, and the programme has been renewed with the same insurers.

In compliance with local laws, for subsidiaries outside the European Union, Rubis Énergie’s first-line international programme with minimal coverage is taken out from our insurer’s local network. The Group policy provides coverage where there are differences in terms and limits.

The Group environmental liability policy was taken out in 2020 for a term of two years for Rubis Énergie and its subsidiaries. Compensation is capped at €40 million per claim and covers environmental liability, damage to biodiversity and clean-up costs.

Due to its refining activities, SARA continued the contract taken out in 2020 for specific first-line cover for two years in the amount of €20 million per insurance period. The Master programme is a second line insurance.

The aviation liability coverage taken out by Rubis Énergie for its subsidiaries that distribute aviation fuel has been renewed under the same terms in the amount of US$1 billion for risks related to damage caused to third parties during refueling.

Charterer’s civil liability insurance has been taken out for Rubis Énergie’s activities/subsidiaries with a P&I Club, a member of the International Group, with guarantees of US$500 million and US$1 billion in the event of pollution. The six ship-owning companies are covered for their civil liability by the same P&I Club belonging to the International Group.

A Group Cargo insurance policy was renewed to cover damage to goods. It is capped at US$60 million for all Rubis Énergie subsidiaries.

A vessel hull policy has been taken out to cover for damage and machinery breakdown.

A political risk policy (excluding the mandatory pools) has been taken out in the amount of €80 million.

General Managers of Rubis SCA and its controlled subsidiaries are insured, as are General Managers of designated 50%-owned joint ventures.

The policy covers the financial consequences of incidents resulting from any claim involving the individual or joint and several civil liabilities of the insured persons and attributable to any professional misconduct committed by such insured persons in the performance of their management duties.

The cover is capped at €10 million per year for front-line insurance, €10 million per year for second-line insurance and €30 million per year for third-line insurance, all losses combined.