Oil and Gas
We know that volatility goes with the territory
Controlling all possible external forces would be an ideal state for the oil and gas, petrochemical and refining industries. Zurich understands the reality of fluctuating conditions that happen daily due to global trading markets, competitor production levels, government regulations, political climates, economic demand and more.
We believe the best response to this high level of volatility is stability — having a partner who is there for the long-run with loss control programs and risk transfer solutions. Zurich can provide the support your company needs to maintain operational and financial equilibrium when things get rocky.
We offer companies in the oil and gas segment the following products and services:
Zurich’s custom casualty products provide streamlined solutions with substantial limits to meet customers’ needs.
- Capacity up to $5M per occurrence and $25M general aggregate
- Available time element pollution coverage with up to 30/90 days detection reporting period
- Full limits available on underground resources
- Compliant Cross Border solutions
- Compliant solutions in 170 countries worldwide
- Blanket waiver of subrogation
- Blanket additional insured
- Owned & non-owned watercraft, non-owned auto and oilfield towing
- Capacity up to $25M - including Zurich primary if underlying
- Zurich A/B wording
- Time Element Pollution for up to full limits
- Underground resources up to full limits
- Can sit over other A-(Good) rated carrier or better
- Non-owned aircraft
Oil and gas operations present unique risks and Zurich’s dedicated team of professionals have the expertise to design insurance solutions to help protect you.
- Available capacity of $150M for target risks
- Integrated Equipment Breakdown coverage
- Able to participate on primary, quota share and excess programs
- Manuscript capabilities
- Compliant coverage in 170 countries worldwide
- Business and contingent business interruption
- Extra expense
- First party pollution clean up
- Automatic acquisition
- Bylaws
Rigs and Mobile Equipment
- Capacity of $5M per unit and $50M per disaster
- Downhole tools and equipment
- Fishing expenses
- Optional cab & chassis endorsement
- 5 year replacement cost
- Able to provide “Actual Cash Value” or “Functional Replacement Cost”
- Rental reimbursement
- Deliberate well firing
Zurich offers additional coverages to address the multitude of exposures in oil and gas operations. Multiple lines of coverage mean we can provide custom solutions to protect all aspects of your business.
Auto
- Appetite for U.S. exposure and dangerous goods
- In-house capacity to write up to $10M auto liability
- Dedicated fleet risk services specialists
Environmental
- Z Choice™: integrate your general and environmental liability to close coverage gaps
- Z Link™: select specific coverages you need, pay only for those you choose
- Dedicated fleet risk services specialists
Construction
- General and specialty coverage
- Builders Risk
- Wrap-up
Inland Marine
- Cargo
- Hull and marine liabilities
Specialty lines
- Directors & Officers (D&O)
- Errors & Omissions (E&O)
- Surety