Energy/Oil & Gas

The oil and gas industry faces a wide variety of unique risks. With our Insurance Carrier Partners, we can find coverage that is tailored to meet these unique needs. From scheduled oil or gas lease property and equipment to crude petroleum in tanks to unscheduled oil or gas lease property and equipment at unscheduled locations, we can offer flexible coverage to help keep your business protected.

Oil and gas lease property and equipment coverage

• Scheduled property and equipment at covered locations
• Property and equipment may be described on the policy or in a separate schedule on file with us
• Valuation is based on either replacement cost or actual cash value options selected at policy inception

Crude petroleum in tanks coverage

• Scheduled crude petroleum in tanks less than 10,000 barrels capacity at scheduled locations
• Crude petroleum may be scheduled on the policy or in a separate schedule on file with us
• Crude petroleum loss valuation based on market price, or contract price if higher, on date of the loss, plus any gathering or transportation costs

Unscheduled oil or gas lease property and equipment coverage:

• Coverage applies to unscheduled property and equipment at unscheduled locations
• An each-item limit and an each-loss-event limit applies
• Valuation based on either replacement cost or actual cash value options selected at policy inception

• Debris removal coverage
  • Up to 25 percent of the sum of paid loss and deductible
• Removal and replacement of underground pumps coverage
  • Up to $10,000 for all costs or expenses that result from any one loss event

• Drilling contractors
• Operators and nonoperators

In the oil and gas industry, keeping wells operational is a business imperative. Control of Well Insurance offers oil and gas companies the protection they need when a well blowout occurs, including well control expenses and expenses to restore or redrill a well insured. Designed for the unique needs of oil and gas companies with this type of risk, Control of Well Insurance can offer the following: 

• Bringing a well back under control
• Pollution cleanup costs incurred due to pollution that results from a well out of control event
• Legal liability for pollution-related bodily injury or property damage arising from a well out of control event
• Redrill and other extra expenses incurred to restore the well to its pre-loss condition

• Drilling contractors
• Operators and nonoperators

Businesses operating in the oil and gas industry have a wide variety of unique liability exposures. Umbrella Excess Liability coverage is designed to address the umbrella excess liability exposures that confront them. Our carrier partners integrated coverage approach combines pollution coverage with umbrella excess liability coverage in the same policy form to provide virtually seamless protection for many types of losses. 

Excess Liability insurance has the features you would expect, providing coverage for:

• Bodily injury and property damage liability
• Personal injury liability
• Advertising injury liability
• Optional excess automobile liability and employers liability

• Drilling contractors
• Manufacturers
• Midstream companies
• Operators and nonoperators
• Service contractors
• Suppliers

Whether your oil or gas rigs and equipment are on the move or stationary in the field, Rigs and Equipment coverage can provide needed protection for these valuable assets. 

• Oil or gas well-servicing, well-drilling or well-work over rigs and equipment, as well as scheduled vehicles
• Machinery, tools, appurtenances, derricks and substructures
• Similar property of others in your care, custody or control

• Drilling contractors
• Operators and nonoperators
• Service contractors

Contractors equipment presents a great diversity of exposures in a wide variety of environments — onshore, offshore, in cities, in forests, or mountains — virtually anywhere. To help keep these assets protected, through our carrier partners, we can offer contractor's equipment coverage. 

• Scheduled equipment on the policy or in a separate schedule on file with us
• Unscheduled equipment you own or have in your care
• Unscheduled equipment you lease or rent from others
• Newly acquired equipment
• Pollution clean-up and removal
• Valuation is actual cash value, with replacement cost option for newer equipment

• No weight or load exclusion
• No exclusion for collapse or collision of booms
• No flood exclusion
• No earthquake exclusion
• No coinsurance

• Waterborne equipment
• Automobile or similar vehicle extension

• Drilling contractors
• Manufacturers
• Midstream companies
• Operators and nonoperators
• Service contractors
• Suppliers

Your focus is on the oil and gas industry. Property coverage from one of our carrier partners focuses on protecting your buildings, equipment, and other business property. 

The following coverage features may be available for the oil and gas industry:

• Building
• Business personal property
• Unscheduled equipment you lease or rent from others when you are contractually required to insure such property
• Newly acquired equipment
• Pollutant cleanup and removal

Plus these other possible enhancements included in your coverage:

• Limited collapse coverage
• Debris removal
• Preservation of property
• Loss in value of undamaged portion of damaged building

Additional benefits available, many with coverages and limits not available in standard ISO forms, such as:

• $25,000 computer breakdown
• $10,000 random attack – hacking event or computer virus
• $25,000 sewer backup or overflow
• $25,000 property in transit

There are several time element options available, including specialized and proprietary blanket earnings and extra expense coverage.

• Drilling contractors
• Manufacturers
• Midstream companies
• Operators and nonoperators
• Service contractors
• Suppliers

Businesses operating in the oil and gas industry have a wide variety of unique exposures. Commercial General Liability coverage is designed to address their general liability exposures. Our carrier partners integrated coverage approach may combine pollution liability coverage with commercial general liability coverage in the same policy form to provide virtually seamless protection for many types of losses. 

Commercial general liability insurance has the features you would expect, providing coverage for:

• Bodily injury and property damage liability
• Personal injury liability
• Advertising injury liability
• Medical expenses

• Drilling contractors
• Manufacturers
• Midstream companies
• Operators and nonoperators
• Service contractors
• Suppliers

Commercial Automobile insurance provides protection for automobiles used in the course and scope of business. Our carrier partners offer a comprehensive commercial auto product to ensure that company vehicles, as well as the employees who operate them, are properly protected. 

A Commercial Automobile policy can provide liability and physical damage coverage for both small and large fleets of commercially owned vehicles. Commercial Auto Vehicle coverages include:

• Liability Coverage
• Uninsured Motorists Coverage
• Underinsured Motorists Coverage
• Physical Damage Coverage

What is the cost of commercial automobile insurance?

The cost can vary. There are many independent factors that impact what you will pay for commercial auto insurance such as the type of the vehicles, driving history, garaging location(s), and the coverages or limits you select.

Is there a difference between a fleet and a non-fleet commercial auto policy?

A fleet is defined as five or more self-propelled autos under one ownership and used for business purposes. A policy with less than five self-propelled autos is considered a non-fleet policy.

If I have personal insurance, do I need commercial auto insurance?

A commercial auto insurance policy provides coverage for commercially owned vehicles used in business operations. A personal auto policy provides coverage for personally owned vehicles that are operated by individuals or family members for personal use.

What is provided under Physical Damage Coverage in a commercial auto policy?

Physical Damage Coverage protects your owned autos against accidental loss or damage, including:

• Collision coverage – protection against damage and loss in the event of an accident
• Comprehensive coverage – protection against damage or loss caused by something other than a collision such as hitting an animal or theft
• Specified causes of loss coverage – protection against specified peril such as vandalism, hail, or fire