The Oil and Gas Insurance policy covers all risks of physical loss and destruction to the insured properties including but not limited to fixed offshore installations, pipelines, flow lines and cables, Hulls, Machinery, Equipment, Appurtenances, Gear, Stingers, Buy Gear, Cranes, Derricks, consumables, well head equipment, Operators Extra Expenses and or arising out of the insured’s operations and their agents. Third party Liabilities against the operators are also covered under the policy.