Operators and Non-operators

Travelers understands operators have specific insurance needs. They own the rights to drill for oil and gas, and  are the basis for exploration and production activities. We provide a variety of coverages and services that can protect their capital and help mitigate risk, both onshore and offshore. This includes meeting  the insurance needs of non-operators. As lessors, owners and co-owners of wells, they also need coverage solutions that protect their investments.

In addition, we offer coverage for operator and non-operator customers with offshore risks written by our Travelers Syndicate through Lloyd’s of London. Travelers Syndicate at Lloyd’s specializes in the main classes of insurance for the upstream and midstream oil and gas industry. The Syndicate has a wealth of experience and knowledge in providing insurance solutions for exploration and production risks faced by operators and contractors from around the world. This includes initial exploration activities, field development including any offshore construction and continues throughout the life of the assets and interests, both onshore and offshore.

The information below provides a deeper view of what Travelers and the Travelers Syndicate at Lloyd’s offers to operators and non-operators.

Key coverages for operators and non-operators offered through Travelers:

General Liability & Umbrella Coverage >
Control of Well Coverage >
Physical Damage Coverage >
Oil Lease Property & Equipment  Coverage >
Auto Coverage >
Workers Compensation Coverage  & Services >
Management Liability, Crime, Kidnap & Ransom Coverages >
Surety Bonds>
Cyber Liability Coverage >

Key coverages for operators and non-operators offered through Travelers Syndicate at Lloyd's

Control of Well Coverage >
Physical Damage Coverage >
Oil Lease Property & Equipment Coverage >
Business Interruption Coverage >
General Liability & Umbrella Coverage >
Offshore and Yard Construction Coverage> 


General Liability & Umbrella Coverage

• Pollution BI/PD coverage
• Blanket additional insured options
• Contractual liability coverage
• General liability limits up to $25 million 
• Excess liability limits up to $25 million
• Additional Resources:
      – Commercial General Liability
      – Commercial General Liability & Umbrella Checklist

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Control of Well Coverage

• First Sign of Trouble Endorsement
• Limited Pay on Behalf Provision
• Casing Repair or Replacement
• Care, Custody and Control
• Control of Well Limits up to $40 million
• Additional Resources:
      – First Sign of Trouble
      – Pay on Behalf of Endorsement
      – Care, Custody & Control
      – Casing Repair & Replacement Endorsement
      – Well Control Free Call

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Physical Damage Coverage

• Coverage for newly acquired property
• Pollutant clean up and removal
• In-hole salvage expenses
• Covers the following types of equipment:
      – Well-servicing, well-drilling or well-workover rigs and equipment, as well as scheduled vehicles;
      – Machinery, tools, appurtenances, derricks and substructures; and
      – Similar property of others in your care, custody or control
• Additional specialized coverage options:
      – Suspension (“layup”) coverage offers a reduced premium for rigs and equipment that are not in use
      – Flood or earthquake coverage
      – Replacement cost coverage without deduction for depreciation
      – Agreed value coverage can provide up to the dollar value of the policy agreed upon by you and Travelers for a total loss
• Additional Resources:
      – Rigs & Equipment Coverage

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Oil Lease Property & Equipment Coverage

• Unscheduled Oil Lease Property and Equipment Coverage
• Crude Petroleum in Tanks Coverage
• Additional specialized coverage options:
      – Debris Removal Coverage
      – Removal and Replacement of Underground Pumps Coverage
• Additional Resources: 
      – Oil Lease Property

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Auto Coverage

• Auto liability
• Physical damage protection
• Fleet coverage
• Countrywide availability
• Additional coverage options:
      – Blanket waiver of subrogation
      – Composite rating
      – Employees as insureds
• Additional Resources:
      – Business Auto Coverage

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Workers Compensation Coverage & Services

• Upstream and midstream accounts, including pipeline contractors
• Multi-state exposures capability
• Safety programs
• No minimum premium requirement
• Extensive preferred provider networks with a presence in all 50 states
• Pharmacy network
• Focus on early intervention
• Medical case management
• Return-to-work programs
• Medical cost containment
• Industrial hygiene/occupational disease risk control specialists
• Additional Resources:
      – Workers Compensation
      – Travelers Medical Advantage

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Management Liability, Crime, Kidnap & Ransom Coverages

• Crime
• CyberRisk
• Private Company Directors & Officers
• Private Partnership Liability
• Employment Practice Liability
• Fiduciary Liability
• Identity Fraud Expense Reimbursement
• Kidnap & Ransom
• Additional Resources:
      – Crime
      – CyberRisk
      – Private Company Directors & Officers
      – Employment Practice Liability
      – Fiduciary Liability
      – Identity Fraud Expense Reimbursement
      – Kidnap & Ransom

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Surety Bonds

• Commercial Surety Bonds
• Contract Surety Bonds
• Additional Resources:
      – Commercial Surety Bonds
      – Contract Surety

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Cyber Liability Coverage

Cyber insurance solutions tailored to fit your business needs:
• For private, nonprofit, public or technology companies
• Network and information security liability
• Communications and media liability
• Technology errors and omissions
• Available as part of a package or as a standalone policy
• Additional Resources:
      – CyberFirst for Technology Companies 
      – CyberRisk

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Travelers Syndicate at Lloyd’s - Control of Well Coverage

• Primarily covers these exposures:
      – Cost of Control of Well
      – Re-drill Expenses
      – Seepage and Pollution
      – Care, Custody and Control
      – Other additional coverage available

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Travelers Syndicate at Lloyd’s - Physical Damage Coverage

• Covers the following types of property for both onshore and offshore:
      – Platforms and other operating assets
      – Drilling Rigs
      – Pipelines
      – Subsea Property
      – Gas Plants
      – Other Upstream and Midstream assets

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Travelers Syndicate at Lloyd’s - Oil Lease Property & Equipment Coverage

• Unscheduled Oil Lease Property and Equipment Coverage
• Crude Petroleum in Tanks Coverage

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Travelers Syndicate at Lloyd’s - Business Interruption Coverage

• Coverage for Fixed Costs following Physical Damage or a Control of Well incident

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Travelers Syndicate at Lloyd’s - General Liability & Umbrella Coverage

• Covers onshore and offshore liabilities for scheduled upstream and midstream interests

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Travelers Syndicate at Lloyd’s - Offshore and Yard Construction Coverage

• Covers the construction and installation of offshore assets for use in the oil and gas industry including:
      – Offshore platforms and complexes
      – Subsea construction
      – FPSO and FLNG construction
      – Jack-up drilling rigs
      – Floating drilling rigs
      – Other related oil and gas assets for use offshore

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Risks Ahead - Risk Control Services

Risk Control Services

Master risk for a competitive advantage

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Claim Management

Broad expertise to help customers get back to business quickly

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For more information about insurance products and services for the exploration and production industry, contact Travelers.

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