The company Petroleos del Peru SA – Petroperu denied having hired the Willis Insurance Broker, which submitted an offer seven times higher than that of two other bidders, Lockton and Gallagher, for the Insurance Program corresponding to the 2022-2024 period.
Through a statement, Petroperú explained that, in the month of May of this year, the Designation Process of the Insurance Broker for the program was developed, a process that was carried out due to the repeated changes of the Insurance Broker of the oil company by of the previous administration.
“Actions that are in the process of investigation by the Institutional Control Body (OCI) of the Comptroller General of the Republic. These continuous changes generated distrust in insurance companies and, consequently, difficulties in managing Petroperú’s policies and claims,” said the state company.
According to the oil company, the process carried out in May is a designation that is regulated by specific regulations. This designation does not create any contractual commitment nor is it related to any payment by the company to the insurance broker.
“The designated insurance broker fulfills the function of providing specialized advice and intermediating in the contracting of policies with insurance companies, attention to the insurance clauses required by corporate contracting, technical advice in the recovery of possible losses due to claims, as well as management and advice on legal insurance”, he signed.
According to Petroperú, the corridor was designated as a result of the technical evaluation that awarded an individual score for each aspect, giving a maximum total of 100 points, in accordance with the Bases of the process. These were:
– Experience of the insurance broker and its international scope in the placement of insurance and reinsurance in the oil & gas field.
– Work team experience.
– Valuation of assets.
– Risk inspection.
– Training.
– Risk analysis support.
– Company specialized in preparing claims and claims.
“Therefore, it is incorrect to state that Petroperú designated the company that presented the highest commission. The commissions incorporated in the proposals of the bidders were strictly referential and correspond to a market investigation to know the scope of each broker. Referral commissions did not award points or generate a payment commitment,” he added.
Likewise, Petroperú affirmed that the insurance policies that the company contracts with the insurance companies for its different assets have a specific procedure through which the insured amounts and the respective premium are evaluated.
If the placement proposal is considered unfavorable for the interests of the state oil company, “the company reserves the right to designate another insurance broker for the placement of a specific policy”, in accordance with what is indicated in the numeral 1 of the Bases of the Appointment Process.
Likewise, the amounts of the premiums are related to historical values, compliance with the scope of the policy and market competition, which also includes insurance broker commissions.
“The appointment has been made in accordance with the procedures in force, however, in order to continue demonstrating the transparency promoted by the Board of Directors and the Administration, the OCI has been requested to review all the documentation of the Appointment Process of the Insurance broker. In the same way, in compliance with the Bases of the Process, Petroperú carries out the subsequent control of the documentation presented by the designated insurance broker company”, he concludes.
Source: Larepublica
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