Hurricanes pose a significant threat to our members, particularly if they have assets in the Gulf of Mexico (GOM) region. OIL provides a $150 million part of $250 million windstorm limit for exposures in the Designated Named Windstorm (DNWS) region (regions include GOM, Eastern Seaboard, Caribbean and Trinidad & Tobago) subject to a per shareholder annual aggregate of two times the limit (i.e. $300 million). Windstorm claims involving more than five OIL members from one occurrence will be subject to an Aggregation Limit of $750 million.
Members that have windstorm exposed assets in regions outside of the DNWS zone (e.g. South China Sea, North Sea, Australia) will be entitled to the maximum $400 million Limit and $1.2 billion Aggregation Limit. However, once that region suffers a loss trigger event (i.e. $750 million single loss event or $1 billion of losses over five years), its limits will revert to the DNWS limits in the following year.