Focus on supplying energy. We’ll focus on your oil and gas insurance.
The oil and gas industry can be dangerous.
Your work sites can be hazardous to your property and your employees. That’s why it’s important that you get general liability insurance in case of accidents or catastrophic events like fires or explosions that result in either property damage or injury to your employees. If your employees are injured, you’ll also want to consider workers’ compensation insurance to help cover employees while they are recovering and off the job.
Environmental concerns are at the forefront of the industry.
The oil and gas industry is at an increased risk of liability when it comes to its impact on the environment. While you take measures to prevent any environmental disasters, spills can happen at any time. As a result, your business could be faced with the costs of lawsuits, cleanup, and other expenses that could put your business at financial risk. An environmental insurance policy may help cover you in the case of accidental pollution or contamination.
Your business might need coverage around the world.
Every person in the world needs energy, so it makes sense that your oil and gas business is taking advantage of this global market. However, doing business internationally makes your insurance needs more complex. An international business insurance plan may help fill in the gaps of your domestic coverage. It may also provide coverage for the liability of your employees while they are overseas, as well as for non-payment by clients that are difficult to resolve in local courts.
Why does your business need oil and gas insurance?
The oil and gas industry is highly specialized and constantly evolving to meet the growing energy demands of the world. Your job is to help keep it running, but working with oil and gas comes with a number of unique risks. That’s why it’s important to have oil and gas insurance coverage to help protect your business and continue supplying the world with energy.
The business side of the oil and gas industry.
Your oil and gas business is just like any other business, and you’ll need some essential insurance coverage. This includes inland marine and ocean marine insurance to help protect your equipment while in transit over land and sea. Another example includes business auto insurance in case one of your business vehicles is involved in an accident. You’ll also want to look into cyber liability insurance to help protect your business in the event of a hack or data breach.
Interested in learning more about how oil and gas insurance coverage may benefit your business? Contact us to discuss your coverage options.