Oil & Gas
Oil and Gas Insurance Information
We are proud to have our roots in Texas, and as such, our experts have been insuring companies involved in the oil and gas industry since the 1970’s. We are dedicated to the oil and gas industry. As an industry leader, we provide tailored solutions that include superior service, risk control and automated certificate issuance for customers which must satisfy complex MSA’s. Over the past decade, we have become recognized as the top insurance broker in Texas for transporters of frac sand, water and drilling fluids, and crude oil, as well as roustabouts and contractors providing ancillary oilfield services. Our products and services have been designed to meet the specific needs of oil and gas companies enabling broad, industry-specific risk management solutions. We provide expert insurance solutions for the following types of businesses:
· Ancillary Oil Field Services
· Casing Contractors
· Crude Oil Haulers ( exclusive program in place )
· Drilling Contractors
· Fuel Haulers ( exclusive program in place )
· Geophysical Engineering and Consulting
· Instrument Logging or Survey Work
· Manufacturer/Distributor of Oil Field Equipment
· Oil and Gas Well Service Contractors
· Oil Field Tool and Equipment Sales or Rental
· Oil or Gas Lease Operators
· Roustabout and Lease Maintenance
· Transporters of Frac Sand or Fluid, Equipment, Pipe, and Rigs ( exclusive program in place )
Businesses in the oil and gas industry face situations that require specialized insurance solutions. While, like other business, they need workers compensation insurance, general liability insurance, automobile insurance and property insurance, they also need policies that are specifically tailored to the equipment used for their business, potential environmental and pollution risks, and safety risks exclusive to their industry.
Oil and Gas Equipment Including Downhole Tools & Equipment
The machinery, tools and rigs used in the field cannot be covered by a standard automobile policy or property insurance policy. Instead, rigs and equipment coverage is necessary. These pieces of equipment are not only expensive to repair or replace, but it can devastate a business when they are out of commission. Insurance can provide replacement cost or agreed value in order to help the company get back on track as quickly as possible.
Environmental & Pollution Concerns
Environmental damage caused by a malfunction or error that results in a spill can be devastating to an oil and gas company as well as the area and population affected by the spill. With cleanup costs and the potential for lawsuits, self-insurance is not always a practical option. Oil and gas equipment coverage will cover some of the cleanup costs but additional liability protection through an umbrella policy may be necessary.
Employees of oil and gas companies can be exposed to far more risks than employees of other businesses. Providing employees with the peace of mind of having accidental death and dismemberment coverage as well as workers compensation coverage will not only help to maintain employee satisfaction and motivation, it will also help protect your business from potential claims you could face when an employee is injured or experiences a fatality on the job.