Energy Industry Insurance
What is Energy Insurance?
Energy companies harness some of the world’s most important resources, helping to fuel economies and serve communities worldwide. Energy insurance helps these companies manage risks related to production, processing, logistics and storage for energy sources. In providing this critical role amid an evolving regulatory and environmental landscape, energy companies require experienced and tailored energy insurance solutions to manage risk.
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Who needs Energy Insurance?
The energy industry is rapidly developing and changing, from oil and gas adapting for greater efficiency and sustainability to the growing number of renewable energy producers harnessing wind and solar power. Companies who generate, process, store or distribute energy need energy insurance in order to manage the unique and evolving risks of that industry.
Why Zurich for Energy Insurance?
With over 30 years of experience in this sector, Zurich’s Energy Insurance group understands the challenges our customers face, as well as the solutions that can help them succeed. Our highly specialized team of underwriters, Risk Engineers and claims professionals help deliver customized energy insurance coverage for oil and gas, petrochemical, natural resources, mining, power generation and utilities, and renewable energy. Whether in production, processing, logistics or storage, customized Energy Insurance is available for the markets you serve.
From multinational corporations to small regional operators, our established global presence and financial strength enable us to work with energy businesses of all sizes. Our specialized Risk Engineers deliver effective and relevant energy risk-management solutions. We are committed to helping our customers build more resilient organizations so they can continue to power the world.
Global strength
Network of over 200 countries and territories, with over 7,500 Multinational Claims specialists
Risk Engineering
Over 25 years of energy industry experience among our Risk Engineers
Financial strength
A+/stable Rating from A.M. Best and AA/stable from Standard & Poor’s**
Ratings for Zurich Insurance Group as of March 20, 2023.
Renewable Energy Insurance
Renewable energy is key to the goal of creating a sustainable global environment. Pursuing and developing new sources of renewable energy can expose businesses to new risks. The construction of a wind farm or solar-energy facility requires coverage that anticipates their integration into existing infrastructure and in alignment with the regulatory and tax environment. Zurich is committed to helping renewable energy providers manage operational and financial risks and supporting our customers in the transition to renewable energy for a more sustainable future.
Oil and Gas Insurance
Breakthroughs in exploration, drilling and production technologies for oil and gas have created a rapidly changing energy industry. Zurich’s deep knowledge in this space, including refining, enables us to address both the opportunities and risks of the rapidly expanding domestic oil, gas and petrochemical sector. For more than 25 years, our oil and gas insurance specialists focus on the swift response and quick turnaround that have led energy pioneers to thrive.
Oil and Gas Insurance coverages
- Tailored onshore and offshore energy-property solutions, including All-risk Physical Damage, Construction and Builders’ Risk, Mechanical Breakdown and Business Interruption, Loss of Production Income, and Operator’s Extra Expense (Control of Well insurance)
- Solutions for upstream, midstream and downstream oil and gas operations; from construction to refining and processing
- Tailored onshore and offshore drilling contractor package solutions, including Construction, Physical Damage, Business Interruption and Liabilities
- Energy Casualty solutions for primary General Liability, Commercial Auto, Workers’ Compensation, Excess and Umbrella, and Pollution coverage
Power Generation and Utilities Insurance
Our specialists can offer structured power insurance solutions that respond to the diverse needs of utilities and power-generation customers. Zurich’s experience in the power generation insurance space enables us to collaborate with customers and create plans for smart energy consumption.
Power Insurance solutions
- Power generation
- Gas-fired power
- Hydroelectric power
- Power suppliers
- Retail and wholesale
- Gas and electric utilities
- Independent power producers
- Manufacturers and distributors
- Plant-maintenance contractors
- Utility-service contractors
We offer broad policy underwriting, including Property Damage, Mechanical Breakdown, Construction and Transit coverage.
Mining Insurance
Zurich has the experience and knowledge to help businesses navigate environmental, political and financial challenges related to mining. Our specialized underwriters set the benchmark for risk gradings based on data gathered from more than 500 sites evaluated.
Zurich serves qualified customers with solutions for:
- Hard-rock mining
- Metal/non-metal mining
- Quarrying and solution
- Processing facilities
- Contractors, equipment manufacturers and distributors
- Equipment maintenance and repair
Mining Insurance coverages
- Property and Casualty with focus on the mining business
- Energy Casualty services provided in U.S. jurisdictions, with access to a global network of Energy Casualty underwriters
- Flexible Workers’ Compensation solutions for U.S. operations, including guaranteed cost and deductible as well as self-insured programs
Zurich’s industry-specific Property and Casualty solutions emphasize a holistic approach to managing risk. We deliver flexible, broad commercial Property insurance forms that can be tailored to an energy customer’s distinctive needs. Our wide spectrum of bundled and unbundled commercial Casualty solutions includes the knowledge and experience of our global network of Risk Engineers, our Claims team’s award-winning Customer Care Center, and medical management and legal services administered through third-party providers. All can help in recognizing risk exposures, addressing them, and responding quickly and effectively when you are impacted by them.
Our global network includes over 750 Risk Engineers working in 40 countries. Our Risk Engineers have experience and deep knowledge in the energy industry and can work with our customers to build practices to help minimize risk. We can deliver the solutions our Energy customers need. Services include:
- Enterprise risk management
- Business Interruption risk-improvement consulting
- Machinery breakdown services
- Slip, trip and fall evaluations
- Business continuity
- Natural hazards risk assessment
- Fleet services
- Construction risk services
Learn more about our Risk Engineering solutions
Even domestic energy relies on foreign components and relationships, which is why understanding the risks and local country regulations inherent in doing business abroad is vital for energy producers. Zurich is one of the leading providers of multinational insurance programs, offering:
- A global network of over 200 countries and territories
- Over 7,500 Multinational Claims specialists in 32 countries
- The knowledge and experience of over 750 Risk Engineers worldwide