Drugs, cosmetics, chemicals, burglar and fire alarm equipment and ladders are some examples of hazardous products. The products liability market for these and other hazardous products is relatively small. Similarly, very few standard markets are interested in insuring new types of products, particularly drugs. The same approach is taken when covering hazardous and/or new products in that a complete description … Read More
It can be difficult to place commercial general liability and products liability coverage for paint, coatings, inks, and adhesive manufacturers. Like chemical manufacturers, these risks are more hazardous than most manufacturing operations due to exposures to toxic substances, the potential of accidental emissions and fire/explosion hazard. Loss control is a very important service that should be provided.
Paints, coatings, and adhesives manufacturers are classes of business in the chemical industry that specialize in producing paints, inks, plastics, adhesives, aerosol containers, lubricants, and resins. Coverages available include general, products, and professional liability, pollution and remediation liability, auto liability, umbrella liability, and workers compensation. Distributors that handle these commodities are also eligible.
Developers and investors whose oil and gas fields do not produce as expected can still get a return on their investments with oil and gas deficiency insurance. If the field’s actual output falls short of engineering report projections, the financial institutions, independent oil producers, individuals, or partnerships are indemnified for the loss. Fields with proven reserves that currently yield through … Read More
Property coverage written on special “”all risk”” as well as named perils coverage forms protect the owner, lessee, or lessor of land-based drilling rigs, portable well service equipment, exploration vehicles, and work-over rigs for loss or damage to this equipment. Ocean marine coverage forms and policies insure offshore drilling rigs, barges, and service craft.
Oil drilling rigs and other equipment necessary to service oil wells present substantial values.
Property coverage is available on special “”all risk”” type or named perils coverage forms that insure wellhead equipment, oil-gas separators, oil tanks, gas compressors, treating plants, pump stations, gasoline-sulfur recovery plants, and similar oil field service equipment that are commonly used at oil lease sites.
This commercial general liability coverage form insures oil well drilling operators, contractors, pipeline owners, and fabricators for bodily injury and property damage that arise from their ownership, operation, or use of oil wells.
Oil and gas producers have increased their exploration, drilling, and production activities. The risk/reward ratio of these drilling efforts is matched by concerns about environmental accidents and damage to equipment. Operator’s extra expense insurance is designed to cover the cost of well control, seepage, and pollution, removing and nullifying, cleanup and containment, and re-drilling expenses as a result of a … Read More
Coverage for large petrochemical operations is usually handled by specialists who are familiar with the engineering and management of large concentrations of specialized equipment used to manufacture chemicals derived from petroleum or natural gas. Loss exposures such as fire, explosion, earthquake, tornado, or hurricane must be underwritten carefully because they represent catastrophic exposures because of the values exposed and the … Read More
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