Risk financing through the use of insurance can protect you from these perils. In the event of a blowout or system failure, there is a serious risk of death, damage to expensive equipment, cleanup costs, and destruction of the well itself. While blowout prevention is a standard practice, accidents happen. Prior to the loss of assets, ensuring you’re insured is a priority so you are able to recoup your losses.
Control of well coverage is a highly specialized insurance product that requires detailed knowledge of the oil and gas industry. These policies cover some or all of the costs associated with regaining control of a well, cleaning up pollution from a blowout, and re-drilling/restoring the well to pre-loss depth. InSource has decades of experience fulfilling the insurance needs of oil and gas operators, and we have the products and experience to protect you from these types of losses.