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GL & Scheduled Equipment Cov for Oil/Gas Driller in KY/U
Posted: Wed Aug 09, 2006 11:28 am
by KJOBF
I have a client based out of CA that is starting up an oil/gas drilling operation on leased land in KY/UT. Need Inland Marine coverage on the Drill Rig valued at $180,000 - have been declined by Hartford, FF, Great American, Lloyds (one of them), Westchester. Still out on AIG. Carriers decline due to exposure to fire/explosion.
Cover X declined GL due to insd being an oil lease operator. Most of the Programs I found have a $25k MP or higher. Any suggestions?
Posted: Wed Aug 09, 2006 11:35 am
by sanddog1
Did you try Travelers Middle market they do have some programs. In addition, I know Zurich does middle market gas exploration. Man we really need this guy to get coverage, with the pipe line in Alaska being shut down..
Posted: Fri Aug 18, 2006 12:08 pm
by SocalRISK
I had a KY well operator out of So Cal running 124 wells in KY, TN and ??? forget now ... AIG did it - only place I could find.
$25k seems appropriate to me as a min premium ... but then.... Im Jaded in California
Posted: Fri Aug 18, 2006 12:27 pm
by KJOBF
Thanks for the info. I have a wholesaler (Burns) trying to obtain a quote through Colony in their oil/gas drilling program. Their MP is lower than $25000, but I don't know what it is. I did have the risk submitted to AIG, but my client will not pay $25k for an estimated $200,000 in gross receipts for the 1st yr of business. I am located in California as well.