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6 PUZZLE PIECES TO CONNECT FOR THE PERFECT

INSURANCE PROGRAM

Whether you’re a CEO, VP, or COO of a new or existing oil and gas services company, consulting/engineering firm, drilling contractor, or lease operator, having a solid insurance program is a must.

…….There are 6 pieces of the puzzle that you need to provide in order to get insurers excited about writing your business.

  1. Ownership & Management Information
  2. Scope of Operations
  3. Geography
  4. General Safety
  5. Hiring Practices
  6. Contractual Information

#1: OWNER

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SHIP & MANAGEMENT

The best way to convey this information is through a narrative format, so sharpen your pencil or break out your Word document and start typing. Begin today with Ownership & Management………

  • Tell us the ownership breakdown of your company. Provide the names of the owners and provide the percentage of ownership each person has in the company.
  • How many years’ experience does management have in the oil field? List how many years the owners & management have been working in the oilfield and what types of positions they have had. It’s also a great idea to include any pictures or media files to your experience. It’s a great way to provide a visual portfolio along with your standard resume information.
  • What are your qualifications? Negligence causes claims, so how are you qualified to run your specific oil and gas company? If you have a resume, go ahead and attach it to your narrative you are writing.

 

Simple Enough, Right?

By answering these questions you can ensure the insurance companies are going to feel comfortable with the ownership & management of your company.  Today we covered Ownership & Management. Start your oil and gas company narrative by answering these questions and stay tuned for Puzzle Piece #2: Scope of Operations.

Need our help today? Contact us at 918-504-6723 or send us an email to: contact@oilpatchinsurance.com

 

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