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
LJ Stein Solutions
Since 1979, LJ Stein & Company 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
- 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 LJ Stein regularly to help them dig deep into their insurance policies, then find answers that reduce their risks and improve their business.