December 12, 2018
Sooner State Agencies

Oil & Gas Partner

Our agency can deliver the strategies, tools and resources that will help you manage your oil and gas industry risks, control workers' compensation claim costs, advance safety and boost employee morale.

We Have All the Tools!

Our agency can help you build solid loss control and safety programs to help you stay on top of your biggest risk management and compliance challenges.

OSHA Compliance and Recordkeeping
OSHA means business and we have the necessary information for you to ensure that your business remains compliant with their rules and regulations.

Managing Risks
We have the risk management expertise to help you plan and control resources and activities in order to cost-effectively fulfill your objectives.

Building a Safety Culture
Our employee safety materials help you promote a safety-minded workplace. We can provide information about servicing, drilling, rigging, etc. for your employees.

Claims Cost Containment
We can help you to control workers’ compensation claims by establishing a safety policy, adopting a Return-to-Work Program, streamlining reporting procedures, identifying top loss sources and mitigating legal expenses, all with our tools.

 

DRILLING

While every industry has been affected by advances in technology, few have changed as dramatically and quickly as the drilling business.

In the span of a generation, we have transitioned from cable tool spudders to conventionals to modern top-drive systems. Toolpushers now correspond with engineers via laptop over satellite networks. Modern wells have lateral arms that rival our fathers’ deepest wells’ vertical depths.

It is essential to keep pace with technology to stay competitive.

Your Greatest Risk

How certain are you of your team’s ability to manage the risks that you are likely to encounter in this environment?

Insurance can deflect only a small fraction of the risks facing your business—but it is an essential part of your risk management strategy.

You face your greatest financial risk if you don’t have a plan for:

  • Mitigating surface and underground geologic and long-term pollution risks
  • Identifying and addressing the risks inherent in drilling contracts or master service agreements
  • Implementing systems that reduce the direct and indirect cost of incidents and accidents
  • Reducing the threats arising out of an increasing experience modification factor and OSHA recordables
  • Maximizing your recovery after a loss
How Your Insurance Broker Can Help

You insurance broker must be a part of your risk management team and have a true appreciation for the gravity of the risk issues facing your business.

It’s time to ask yourself:

  • How confident am I in my broker’s ability to help me anticipate and manage the risks I will likely face in this environment?
  • Does my broker help guide me through complex supply chain risk management decisions or merely transact my business with the insurance carrier?
  • Will my broker keep pace with the various states’ workers’ compensation rules and requirements? 
  • Can I count on my broker to help me anticipate changes in the regulatory environment that may affect risk or will I need to educate my broker?
  • Does my broker have the knowledge necessary to help maximize my recovery after a loss?


STIMULATION & COMPLETION

Your Costliest Risks

You face your greatest financial risk if you don’t have a plan for:

  • Mitigating surface and underground geologic and long- term pollution risks
  • Identifying and addressing the risks inherent in drilling contracts or master service agreements
  • Reducing the threats arising out of an increasing experience modification factor and OSHA recordables
  • Implementing systems that reduce the direct and indirect cost of incidents and accidents
  • Navigating and simplifying the idiosyncrasies of northern Appalachia
  • Efficiently financing the cost of risk
  • Anticipating and leveraging the rapidly changing industry landscape
  • Positioning yourself to attract new profitable business relationships
  • Avoiding the pitfalls that limit future business opportunities

How Your Insurance Broker Can Help

If you’re a well servicing contractor in the Marcellus Shale, you want to work with an insurance broker who is passionate about the oil and natural gas business, not just someone who writes insurance. 

You need a broker who takes the lead in:

  • Guiding you through complex supply chain risk management decisions
  • Anticipating changes in the regulatory environment that may affect risk
  • Helping you build a war chest to defend against litigation that may take decades to develop
Sooner State Agencies Solutions

Do you …

  • Need assistance in deciphering your policy's definition of pollution?
  • Know if your pollution policy protects you against future claims once you leave a location?
  • Know if your pollution policy responds to a baseless or toxic tort claim?
  • Know if your insurance policies meet the obligations of your drilling contracts or master service agreements?

We live and breathe the oil and natural gas business and we see, on a daily basis, the potential risks that well servicing contractors face in the Mid-Continent Region. Because of our ties to this area, and our background in the oil and gas industry we have first-hand knowledge of which P&C insurance carriers best serve well servicing contractors doing business here.

 

OPERATING COMPANIES

As an operating company, your responsibility extends well beyond the work of your employees. Every action of every employee of every contractor within your supply chain has the potential to put your company at risk.

Your Costliest Risks 

You face your greatest financial liability risk if you fail to:

  • Identify opportunities to take risk "off the table" at the time of a transaction
  • Mitigate surface and underground geologic and long-term pollution risks
  • Identify and address the risks inherent in drilling contracts or master service agreements
  • Reduce the threats arising out of an increasing experience modification factor and OSHA recordables
  • Implement systems that reduce the direct and indirect cost of incidents and accidents
  • Navigate and simplify the idiosyncrasies of operating in strictly regulated states
  • Efficiently finance the cost of risk
  • Anticipate and leverage the rapidly changing industry landscape
  • Avoid the pitfalls that limit future business opportunities
How Your Insurance Broker Can Help

It’s crucial that your insurance broker truly understands the gravity of the risk issues facing your business as an operating company.

You need a broker who takes the lead in:

  • Guiding you through complex supply chain risk management decisions 
  • Anticipating changes in the regulatory environment that may affect risk 
  • Helping you build a war chest to defend against litigation that may take decades to develop 
Sooner State Agencies Solutions

Sooner State Agencies has worked to develop special, customer-focused expertise in serving the needs of oil and natural gas operating companies. 

How confident are you in your understanding of?

  • How your pollution policy will react to an unforeseen circumstance?
  • How your policy defines pollution?
  • If your pollution policy protects you against future claims once you leave a location?
  • Whether your pollution policy responds to a baseless or toxic tort claim?
  • If your insurance policies meet the obligations of your drilling contracts or master service agreements?

Operating companies just like yours call on Sooner State Agencies regularly to help them dig deep into their insurance policies, then find answers that reduce their risks and improve their business.