Blowout prevention warranty

{
  "id": "MLC-T-INS-000576",
  "term": "Blowout prevention warranty",
  "field": "Insurance and risk management",
  "definition": "A policy condition in insurance for oil and gas operations that requires the insured to maintain and operate blowout prevention equipment in full compliance with the warranty's terms. The insured warrants that the equipment is properly installed, tested, and used at all times during drilling or well-servicing operations as specified. A breach of this warranty, such as failing to follow prescribed procedures, can result in the denial of a claim for a subsequent blowout, regardless of whether the breach caused the loss.",
  "subject": "Commercial Property",
  "url": "https://mlchart.com/terminology/insurance/blowout-prevention-warranty/"
}