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Oil and Gas Insurance

The oil and gas industry isn’t like any other business. From highly trained professionals to specialized skilled contractors, the energy industry is unique, requiring specialized skill sets and  machinery across a vast supply chain, to get the job done safely and on time, and to ultimately deliver products to market that are essential to the health of Canadian economy.

 

This industry faces unique risks based on the complexity of the work, the facilities and infrastructure being worked on, and the equipment used. From professional consultants to skilled contractors, to business that own and operate production facilities, there’s coverage to keep your business in the oil and gas industry protected if the unexpected happens. Our experts will drill down and find the best coverage to protect your business and assets.

 

As your local insurance experts for over 40 years, we know that each business in the oil and gas industry in AB is unique in its own way. From professional consultants providing services from downtown Calgary to on-site skilled trades and specialized service providers, we’ve got you covered. With all it has to offer, it’s not hard to understand why so many people decide to call their oil and gas operation home in AB.

 

At Westland we understand that business is dynamic, contractors and professionals in the oil and gas business may ply their skills in similar industries, such as mining or resource extraction, renewable energy facilities, and petrochemical industries to name a few. We understand it’s vital to protect what’s most important to you and your business. Our expert insurance advisors are here to ensure you’re protected and provide peace of mind so you can focus on nurturing your business for the future.

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Let us find the best insurance packages and rates for you! Get a quote.

Connect with us over the phone at 1-888-259-2747 or visit one of our convenient locationsClickhere to find a Westland Insurance advisor close to you.

Why Choose Westland?

We know that your commercial insurance needs to match your goals, your business and your budget.  Our expert commercial insurance advisors get to know you and your business, so that they can tailor a policy to your exact needs. We’ll find the best coverage for you at the right price so that you can continue to live your life the way you want to.


We understand that insurance can be complex sometimes. Let our expert insurance advisors do the heavy lifting! We’ll help you find a policy that you feel is the best fit and provides peace of mind.

 Oil and Gas Insurance Explained

Across a vast and complex supply chain, each oil and gas business is unique and comes with its complexities. From upstream drilling, exploration and production to midstream facilities, infrastructure, to distribution and utilities, the businesses in the oil and gas industry are some of the most technically specialized businesses in the country. That’s why our dedicated oil and gas insurance advisors work to understand your business and ensure its adequately protected.

 

What’s Included in an Oil & Gas Policy?

The right policy will encompass the main coverages provided in most Commercial General Liability policies, but our brokers will work with you to understand your business, so that it is properly rated by the insurance company and include specialized coverages to make sure you are protect for the scope of work and service you provide. Some of the specialized coverages could include: Pollution, Motor Truck Cargo, Fire Fighting Expenses, Tools, Equipment, Installation Floaters, Tenant Legal Liability, Non-Owned Auto and Professional Errors & Omissions.


Tools & Equipment

Walk into the yard of any oil and gas service provider, and you’ll know there is a lot of equipment needed to get the job done. Whether you have specialized tools and equipment used in seismic, drilling or completion operations, or tools used for the many skilled contractors in the industry such as welders and electricians. The tools and equipment required for your operation can add up, and the oil and gas insurance policy will provide peace of mind coverage.

Commercial Property

Commercial property insurance provides business owners with protection for the most critical physical assets of their business and, in turn, peace of mind to keep their business running. Whether you have an office, equipment yard, shop, production facilities, wells or retail locations, all business owners should carry commercial property coverage to ensure you’re able to get you back on your feet quickly in the event of a loss. To learn more about commercial property insurance, click here. 

Liability

Commercial General Liability (CGL) provides coverage for liability claims arising from bodily injury and property damage to others as a result of your operations. Losses and subsequent claims could be caused by your employees, your products, completed operations, or by something occurring on your premises. To learn more about business liability, click here. 

What Businesses Need Oil and Gas Business Coverage?

Whether you run a big operation or run a specialized consulting business, having the right oil and gas business insurance policy is important. Our oil and gas insurance advisors are in the community and familiar with the needs of your business, with a focus on industry and market trends. Our oil, gas and energy industry insurance advisors will take the time to fully understand your operation, get to know you and your business, and continue to be there for you when you need us.

 

 

What Types of Business Are Covered?

 

Each business in the oil and gas industry is as unique as the specialty job they perform. We’ve got you and your business covered. We insure the major oil and gas industry businesses:

  1. Consultants
  2. Field Operators
  3. Well Head
  4. Contractors
  5. Heavy Equipment Operators 
  6. Service Providers
  7. Skilled Trades
  8. Environmental 
  9. Exploration and Production Companies
  10. Professionals
  11. Construction
  12. Facilities
  13. Hauling Operations
  14. Manufacturing
  15. Procurement 

Get a Quote with Westland

Our insurance advisors are here to help make the process of getting oil and gas or energy industry insurance as easy as possible. Whether it’s over email, the phone or in person we are ready to help! To get started on a quote now, click here. Our advisors will contact you right away and help you get the coverage you need to get on site and protect your business and assets. Of course, we are always available to chat over the phone or in person. Check out our locations page to connect with an office closest to you!


5 AB Oil & Gas Facts

1. Alberta has the third largest oil reserve in the world. Behind Venezuela and Saudi Arabia.
2. Alberta oil sands reserves equate to about 165.4 billion barrels. 
3. Alberta is the largest producer of crude oil and natural gas in Canada, with 3.91 million barrels per day of oil and 10.5 Billion Cubic Feet Per Day of Gas in 2018. Note, 2018 was a year when Alberta was forced to curtail production of crude oil due to the physical limits of its transportation infrastructure being reached.   
4. The upstream oil and gas industry directly employs over 138,000 people in Alberta. 
5. Crude Oil is Canada Largest Export by Value, representing approximately at $48 Billion in annual value, including Processed Petroleum Oils and Petroleum Gases this number is approximately $62 Billion in annual value, this is approximately $20 Billion more annually than Cars, Parts and Accessories.