EnergyPro® Control of Well Coverage
In the oil and gas industry, keeping wells operational is a business imperative. Travelers EnergyPro Control of Well1 offers oil and gas companies the protection they need when a well blowout occurs, including well control expenses and expenses to restore or redrill a well insured. Designed for the unique needs of oil and gas companies with this type of risk, our EnergyPro Control of Well product offers the following:
Coverage for costs and expenses related to:
- Bringing a well back under control
- Pollution cleanup costs incurred due to pollution that results from a well out of control event
- Legal liability for pollution-related bodily injury or property damage arising from a well out of control event
- Redrill and other extra expenses incurred to restore the well to its pre-loss condition
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Travelers offers several additional features to give oil and gas companies the protection they need:
- Free telephone advice and consultation services for well control incidents available 24/7, provided by Wild Well Control, Inc. There are no restrictions on how often you can call. The goal is to help prevent well control incidents from escalating into catastrophic events.
- First sign of trouble endorsement provides reimbursement for hiring Wild Well Control, Inc. to help manage well pressure control incidents and prevent a well out of control event. Travelers reimburses you for up to $25,000 of the costs you incur for Wild Well Control onsite assistance with hazardous pressure control incidents at an insured well. Your well site personnel get valuable, immediate assistance without worrying about costs.
- EnergyPro Care, Custody and Control Broadening Amendment provides protection for physical loss of or damage to specified types of non-owned oil or gas field equipment at the site of, or while it is in transit to or from, a well insured. This covers the insured's legal or contractual liability which the insured has assumed responsibility under a written contract, including rental or lease agreements.
- EnergyPro Limited Pay on Behalf Of (POBO) Provision. This optional endorsement protects the operator's working capital from being diverted to fund a control of well loss. For qualifying insureds, this endorsement allows Travelers to pay covered well control losses, costs or expenses directly to a vendor or other third party. Without this endorsement, you would pay those amounts first and then seek reimbursement from Travelers for the covered loss.
For further information or to purchase EnergyPro Control of Well insurance from Travelers, please contact an independent Oil & Gas insurance agent or broker. Independent agents with questions can contact Travelers Oil & Gas at 281.606.8610.