Insurance for Drilling Contractors in the Oil and Gas Industry
Oil and gas drilling contractors face unique and dangerous risks every day. Travelers has been protecting drilling contractors for over two decades, offering specialized coverage solutions that can help drilling contractors protect their employees, their equipment and ultimately their business viability.
Core Insurance Offerings
Travelers is a leader in the oil and gas industry, with more than 20 years serving oil and gas customers. Key coverages for drilling contractors include:
Who Is This Insurance Right For?
Oil or gas drilling contractors, including those engaged in oil or gas wells:
- Casing installation
- Hydraulic fracturing
- Other lease work or well servicing
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What Specialized Coverage Is Needed by Drilling Contractors in the Oil and Gas Industry?
Drilling contractors are typically hired by well operators to perform drilling operations at a well site. Their responsibilities can include installation of well casing, completion of wells to prepare for oil or gas production, hydraulic fracturing, and cementing of wells for further drilling or abandonment. These activities require insurance to protect equipment, machinery, the safety of third parties and the contractor’s most valuable asset ‒ its employees. Drilling contractors need a specialized commercial general liability policy to provide protection for sudden and accidental pollution incidents which cause bodily injury or property damage to a third party. A Control of Well policy can provide coverage for well-out-of-control events, such as a blowout, and can help cover some of the costs and expenses associated with bringing a well back under control and pollution cleanup.
Related Products & Solutions
Insights & Expertise
Having a comprehensive contractual risk transfer (CRT) program can be a critical component in managing risks in the oil and gas industry.
Having well-documented policies can help companies safely and efficiently onboard employees.
A fleet safety program can help promote a safe work environment for your drivers, and help protect against liability from vehicle accidents.
Workforce Advantage is Travelers’ comprehensive approach to managing workers compensation. It involves attracting and hiring candidates, onboarding and training and supporting and engaging employees.