British Insurance Awards 2019: Lloyd’s and London Market Broking Team of the Year - Willis Towers Watson, Independent Oil and Gas Team

Winner: Willis Towers Watson, Independent Oil and Gas Team

It came as no surprise to see Willis Towers Watson’s Independent Oil and Gas Team win the Lloyd’s and London Market Broking Team of the Year award for its bespoke risk management and insurance solutions for the exploration and production industry.

The North Sea is vital to the UK economy and as Independent Oil Companies buy up assets, this niche client base demands dedicated resources and specific risk management requirements – and Willis Towers Watson was more than happy to help.

A dedicated team of just 10 professionals created a suite of bespoke products and a toolkit of resources, including an insurance-backed surety to free up capital for decommissioning purposes, and a facility designed especially for the market.

Providing oil companies with a ‘one stop shop’ for all their risk management requirements, Willis Towers Watson becomes an integral part of the supply chain from an early stage, giving specialist advice long before any hydrocarbons are even produced.

Once an oil company is established, Willis Towers Watson is then able to deliver its niche expertise in the exploration and production industry.

One judge observed: “An excellent integrated programme and wide scope of service in a very specialist market.”

Willis Towers Watson is delighted to be honoured as the Lloyd’s and London Market Broking Team of the Year. It’s great to see our commitment to client service and innovation recognised by the wider insurance industry and highlights the great teamwork of many colleagues within our company.

Chris Dear, managing director, Willis Towers Watson