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Oil & Gas Insurance
How do you choose an insurance provider? Do you choose a
company with financial stability that will be able to pay your claims? Do you
require a company with skilled technical representatives who understand the
business? Are you looking for underwriting specialists who can answer your
concerns about pollution and other liability issues? At Texans, you can have it
all.
Texans has provided insurance and services to the petroleum industry since the
1980’s. Texans offers specialized policies that can include coverage for pollution
liability and umbrella liability on a worldwide basis. Additionally, Texans can
help design alternative risk transfer mechanisms.
Texans provides insurance to a wide range of petroleum operations:
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Compressor Leasing Services
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Geophysical Contractors
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Lease Maintenance Contractors
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Oil and Gas Lease Operators
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Petroleum Geologists
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Petroleum Over-the-Hole Service Contractors
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Pipeline Operators
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Wireline Services
Texans’s tailored products respond to many specialized needs and can include the
following:
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Business income valuation considers historic production levels
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Automatic protection for newly acquired wells
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Co-owners of working interest are insured
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Co-owners of non-operating working interest, managed and controlled are insured
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Optional pollution insurance for both gradual and sudden unexpected events
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Optional time element insurance available on the pollution liability policy
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Ability to schedule gas storage and gas extraction/recovery facilities
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Oil lease property form includes tanks, pump jacks, dehydrators and associated
lease equipment
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Contractors equipment form can include oil field servicing equipment
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Per-well limit for underground resources damage available
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Ability to schedule pipelines including pipeline metering, gas conditioning and
compressor stations
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Simplified per-well rates for easy accounting
Texans also offers the energy industry a full complement of products including
commercial automobile, workers compensation, directors & officers, crime,
employment practices liability, and kidnap/ransom and extortion insurance.
Why does a petroleum company need Texans? Consider the following
scenario:
An oil lease operator experienced a rupture in an underground pipeline. A
nearby homeowner discovered his swimming pool full of crude oil. Our partners’
environmental unit, working with the lease operator and the homeowner, cleaned
up and restored the residential property. The clean-up took more than six
months and cost more than $1 million. The lease operator was able to develop
and maintain invaluable good will with the homeowner and the community. No
lawsuits were filed.
Service and Strength
At Texans, we deliver more than solid insurance products. We support our
customers through our renowned services, extensive global network and financial
strength. Texans’s reputation for service is built on a consistent track record of
performance. Our loss control professionals and risk consultants have the
technical skills and knowledge in the petroleum industry to offer workable
solutions to loss prevention and disaster planning. For example, services
include self-inspection programs to identify potential well site general
liability exposures and management programs to control liability exposures
associated with use of independent contractors. Should a loss occur, our
exceptional claim service is available anytime/anywhere in through a toll-free
number or via the Internet. Financial strength, combined with our underwriting
expertise and claim service, means you can count on Texans to be there when you
need us most.
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