Split Dollar & Estate Planning
Reading Time: 2 minutesSplit Dollar & Estate Planning Balancing Costs: The Split Dollar Method Firstly, let’s introduce the concept of Split Dollar or (SD) as an estate planning strategy. (SD) is a financial agreement, typically between an employer and employee, to share the costs and benefits of a life insurance policy. It can also occur between two […]
Energy Industry Workers Compensation: Coverage for Oil, Gas & Power Operations
Reading Time: 2 minutesWorkers’ compensation for the energy industry covers some of the highest-risk occupations in the economy — roughnecks, rig hands, pipeline welders, power plant operators, and field service technicians. Classification codes for energy workers carry elevated rates because the frequency and severity of injuries in oil, gas, and power operations far exceed most other industries. In […]
Surety Bonds For Your Energy Company
Reading Time: 2 minutesThis coverage is one piece of a broader energy insurance program. For a full overview of how the pieces fit together for oil, gas, and power operations, see our guide to Houston energy insurance coverage. Surety Bonds For Your Energy Company Assessing Surety Bonds in Energy Starting off, let’s understand the role of surety […]
Understanding Energy General Liability Insurance
Reading Time: 3 minutesWhat Drives Energy General Liability Cost Energy GL is one of the most operation-specific casualty lines. The same coverage sits in very different cost bands depending on what the insured actually does and where: Operation type Relative cost band Primary cost driver Upstream office / admin Lower band Limited operational exposure Midstream / processing Mid […]
Safeguarding Power Infrastructure: The Role of Asset Insurance
Reading Time: 2 minutesSafeguarding Power Infrastructure: The Role of Asset Insurance Understanding Risk in the Energy Sector Firstly, the energy sector is fraught with unique challenges, posing a substantial risk to energy-related assets. Environmental conditions, technology disruptions, and geopolitical shifts all play a significant role in this industry’s dynamic landscape. However, one cannot neglect the critical function […]