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Oil Insurance

Oil Insurance is a specialty type of insurance providing quite a wide form of coverage for a variety of activities within the spheres of oil and energy industries. Oil Insurance typically renders protection against such mishaps as equipment loss or failure, theft, vandalism and terrorism, as well as protection of the output and its transportation.

Thus, Cargo Insurance primarily protects the cargo contents including coverage for the situations when physical damage is inflicted on the property, but under certain policies with special conditions requiring increased premium payments it can also render protection against accidental spills, environmental pollution and related items regarded as pollution liability.

Oil Company Insurance plans are aimed at safeguarding the health and efficiency of the workers, that is why they render coverage for health care and accidents befalling people involved in the oil business.

Besides, Oil Insurance coverage may apply to such important facilities as oil rigs, wells and the whole spectrum of activities and items of equipment pertinent to oil drilling business.

Oil industry is a dangerous business, fraught with a number of adverse consequences. That is why Oil Insurance plans are usually costly, but all in all, the cost of this insurance is cheaper than paying the cost of a catastrophic loss.