Clients in the oil and gas industry have essential insurance needs, and there isn’t a one-size fits all package to cover all of the exposures that are present for those risks.
Oil and gas businesses need General Liability to protect them from claims involving bodily injury, property damage, and personal injury (like libel or slander), as well as Workers’ Compensation Insurance to cover workplace accidents and resulting injuries. Professional Liability Insurance protects against damages resulting from employees’ mistakes, and Commercial Property Insurance is necessary to cover your clients’ physical property – such as their office and its contents – from damaging events like fire and theft.
However, oil and gas companies also need Pollution & Environmental Liability Insurance because of increased environmental risks. If they accidentally caused an oil spill, or had another environmental incident, General Liability wouldn’t cover it. Pollution Liability is essential to cover the cleanup and related costs, including legal expenses.
This article explains the necessary coverage for oil and gas companies. Jencap has brokers dedicated to the oil and gas industry and understand the unique nuances of the coverages needed. Contact our team of experts to get a quote.
The Jencap Environmental Insurance Team
Jencap’s environmental and energy team thinks like environmental professionals. With backgrounds as consultants and geologists, these brokers understand risk from the ground up. When environmental exposure changes the complexity of a placement, they can identify coverage gaps and structure solutions that a generalist broker would miss.
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Put Jencap to Work For You
Whether they realize it or not, most every business has some sort of environmental exposure. It’s more important than ever for companies to evaluate their environmental risk profile and secure appropriate insurance coverage. At Jencap, we don’t have generalist brokers; our dedicated team of environmental brokers has worked every angle of the environmental industry and knows it inside and out. By partnering with Jencap, you’ll have an industry-leading wholesaler on your side, working with you and your clients to secure the coverage — and peace of mind — your clients need.