There's a great need for ROV operator's insurance when you manage these kinds of vehicles for the first time. And if your company is spending an extraordinary amount of money on this effort, the workers and ships themselves will all need to be covered long before they see action.
These are valid concerns for any company that makes use of ROVs, of course, but if you're like Tidewater, which is beefing up its capabilities in this area with a funding injection of $30 million, contributing toward opening up a section of the company.
This new subset will be known as "Tidewater Subsea" and will be focused on deep sea work that requires vessels that can maneuver that far underwater. As the New Orleans Times-Picayune reports, Tidewater is chiefly concerned with how it can service the different energy platforms it is tasked with helping. The executive VP of the company, Joe Bennett, told the source that this remains a driving force behind their business decisions.
"Our business has been mostly, though not totally, tied to the success of the number of working rigs around the world," he said. "This is more of a life-of-field activity level. We're there from start to finish instead of only if the rig is there."
This can be an exciting time for the expanding company, but also one in which important concerns get overlooked, especially as they pertain to the specific work of the ROV vehicles you are using. But ROV insurance is a solution that's completely workable and appropriate for your endeavors.