Oil And Gas: Upstream Downstream or Midstream?

Lisa Goth Commercial, Uncategorized

The oil and gas industry is constantly evolving, including its exposures, and there are unique risks at every stage of the oil and energy process. As a result, businesses in the oil and gas industry face unique situations that require specialized solutions.    

Oil and Gas businesses are involved in exploration, site preparation, site maintenance, and distribution.  Each phase involves specialists, including general contractors, excavators, piping crews, land-lease companies, well-tenders, drillers, and frackers. Unfortunately, with so many activities and specialists involved in oil and gas business operations, multiple factors are out of your control and need protection. 

In 2021, the industry experienced its highest oil prices in six years and has rebounded strongly; however, uncertainty remains for the future.  In addition to the oil price volatility, each new COVID variant with the likelihood of more lockdowns adds to the confusion and uncertainty. As a result, those in the US shale are cautious.

What can ease the uneasiness?

Like any other big business, oil and gas companies need workers’ compensation, general liability, and property insurance.  They also need policies that specifically address the equipment they use, potential environmental risks, and safety risks exclusive to their industry.

Reduce and remove the exposures facing your business through specialized insurance products to ensure your property, equipment, and employees are appropriately protected.  Oil and Gas Industry-specific insurance through Charles Leach can save you money while protecting your assets and helping your business grow.

Charles Leach insurance professionals thoroughly understand your company’s structure, operations, risks, and contractual relationships.   We design customized, comprehensive Oil and Gas Insurance coverage that includes:

  • Equipment Insurance
  • Commercial Auto Insurance
  • Property Insurance
  • Liability Insurance
  • Workers’ Compensation Insurance
  • Pollution Insurance
  • Cyber Insurance

Charles Leach’s expertise spans a range of diverse industries and businesses, giving you tailored policies that best cover your risks.  We invest the time to meet with you, learn about your business, and recommend thoughtful, cost-effective plans to help you survive and thrive.  Call us today at 1-888-275-3224!