Insurances for Balticconnector pipeline project.

The following contracting entities have decided to conduct tenders for the insurance of the Balticconnector construction project:

Baltic Connector Oy (BCOY) and Elering AS (Elering).

Insurance will be acquired for the whole construction period, expected to run from 1st of March 2018 to 31st of December 2019, followed by a 24-month maintenance period.

The insurance is divided into the following four separate policies:

1. Offshore Construction All Risks, including primary Third Party Liability, Damage to Existing Property and Consequential Loss coverage (Wording: WELCAR Sections I & II). For BCOY & Elering.

2. Onshore Finland Construction All Risks, including primary Third Party Liability. For BCOY only.

3. Excess Third Party Liabilities, including Damage to Existing Property and Consequential Loss coverage. For BCOY & Elering.

4. Onshore Finland:

i. Terrorism and Sabotage insurance.

ii. War, Terrorism and Political Violence insurance.

For BCOY only. Quotes being obtained for both 4i and 4ii, with only one being purchased.

For policies 1 and 3, BCOY and Elering shall make the award decision together. The award decision for policies 2 and 4 shall be made solely by BCOY.

In respect of policies 1, 2 and 3, it should be noted that contractors have been requested to purchase a primary Euro 5,000,000 any one occurrence of Third Party Liability insurance with BCOY and Elering named on their policies where applicable.

Insurers can participate in the tender of each policy separately. However, Insurers can offer their terms for policies as a group.

BCOY and Elering have authorized Marsh Oy and Marsh Ltd to conduct the tender.

Information about the Balticconnector construction project can be found here:

http://balticconnector.fi/en/

and

https://elering.ee/en/balticconnector.