Oil & Gas Industry Insurance
In recent years, the oil and gas industry has become closer and closer to home. Northeast Ohio has grown to be an industrial hotspot, bringing many jobs to the area. We are fortunate to live in an area with many natural resources, and we want to do everything we can to protect those businesses that are involved in the production process.
As the oil and gas industry constantly evolves, so do the exposures. From drilling operations to service contractors, there are unique risks at every stage of the process. The insurance experts at L. Calvin Jones take the time to thoroughly understand your company’s structure, operations, risks, and any contractual relationships.
Just like other businesses, oil and gas businesses need workers compensation insurance, general liability insurance, automobile insurance and property insurance. They also need to make sure their policies cover:
1.Oil and Gas Equipment- machinery, tools, and rigs used in the field are not covered by a standard automobile policy or property insurance policy. If left unprotected, they can devastate a business when out of commission and when they need replaced.
- Environmental Concerns- can be common when caused by a malfunction or error that results in a spill that to can be devastating to the oil and gas company, as well as the area and population affected. It is important to have coverage for cleanup costs or potential lawsuits that may arrive.
- Safety Risks- provide employees with the peace of mind with accidental death and dismemberment coverage, as well as workers compensation coverage. This will help maintain employee satisfaction, as well as protect your business from potential claims that can happen when an employee is injured or experiences a fatality on the job.
Some of the top causes of loss in the oil & gas industry include fires, blow outs. machine breakdowns, and explosions. Make sure that your business is protected in the case of an unforeseen event.
Calvin Jones & Company can reduce your costs and expand your coverage. If you would like to investigate our services further, please contact us at 330-533-1195.