Commercial Insurance • Oklahoma City, Oklahoma(580) 571-1021ppruett@jordan-gray.com
Parker's Risk Insights • Oil & Gas

5 questions an oilfield contractor should be ready to answer.

A stronger renewal starts with being able to explain the operation clearly before an underwriter has to guess.

What work are you actually performing, and for whom?

Be ready to explain operations by type, customer mix, subcontracted work, lease or operator relationships, geographic footprint and meaningful changes since the last renewal.

What does your fleet and equipment exposure look like?

Vehicle types, drivers, radius, hauling, trailers, heavy equipment, maintenance practices and current equipment values can all shape underwriting.

What does your loss history say about the operation?

Underwriters look beyond total dollars. Frequency, severity, open claims, causes, trends and corrective actions help explain what happened and what changed afterward.

What contractual insurance requirements are you agreeing to?

MSAs and customer contracts may include additional insured requirements, waivers of subrogation, indemnification language, specific limits and umbrella or excess requirements.

What are you doing to control safety and operational risk?

Training, driver controls, incident reporting, corrective action, customer compliance requirements and documented safety practices help tell the story behind the risk.

Why It Matters

Don't wait until renewal to organize the answers.

Better information can help an account be presented more accurately to underwriters and can surface coverage or operational issues while there is still time to address them.

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