Oil & Gas Insurance – Alberta
The oil and gas industry isn’t like any other business. From highly trained professionals to specialized skilled contractors, the energy industry is unique. It faces specific 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, and businesses that own and operate production facilities, there’s coverage to keep your business protected if the unexpected happens. Our experts will drill down and find the best coverage to protect your business.
As your local insurance experts, we know that each business in the oil and gas industry in Alberta 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.
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.
Why Choose Westland?
We know that your business insurance needs to match your goals, your business and your budget. Our expert business insurance advisors get to know you and your business, so that they can tailor a policy to your exact needs. We’ll work with you to build a risk management solution, ensuring coverages line up with your business needs.
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. To learn more about the benefits of being a Westland client, Click here.
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.
The right policy will encompass the main coverages provided in most business liability policies. Our brokers will work with you to understand your business to ensure it’s protected 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. You may 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 your oil and gas insurance policy will provide peace of mind coverage.
- Business 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 business 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 business property insurance, click here.
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.
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 and gas insurance advisors will take the time to extract information about your operation, get to know you and your business, and continue to be there for you when you need us.
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:
- Field Operators
- Well Head
- Heavy Equipment Operators
- Service Providers
- Skilled Trades
- Exploration and Production Companies
- Hauling Operations
We can help with your auto insurance needs too! Connect with us today to ensure you’re covered out on the road.
Review Your Insurance and Get a Quote with Westland
Ready to discuss your insurance needs? Our expert advisors are here to review your current insurance policies, discuss your unique risks and operations, and find the perfect insurance policy for your business. Whether it’s over email, the phone or in person we are ready to help! To get started on a quote now and see price estimates for your business coverage, click the button below. Our advisors will contact you right away and help navigate your risk management needs. Of course, we are always available to talk over the phone or in person. Check out our locations page to connect with an office closest to you!
Oil and gas claims can range from environmental concerns to exposures during transit. For example, gas products are being transported, and the truck is in an accident resulting in product leaking into creeks or waterways. There may be responsibility allocated to the transportation company to clean up the accident and environmental impacts. The right oil and gas insurance policy will help mitigate these risks and get you back to your normal as quickly as possible.
Our goal is to find the best coverage for your business so you can focus on what’s important. To learn more about being a Westland client, click here.
5 AB Oil & Gas Facts
- Alberta has the third largest oil reserve in the world, behind Venezuela and Saudi Arabia.
- Alberta oil sands reserves equate to about 165.4 billion barrels.
- 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.
- The upstream oil and gas industry directly employs over 138,000 people in Alberta.
- 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.