The topic of drilling has been controversial for the past several years. The International Association of Drilling Contractors is extremely concerned with the Interim Policy Document issued this week by the U.S. Bureau of Safety and Environmental Enforcement. By confirming that BSEE inspectors can issue Incidents of Noncompliance to drilling contractors as well as oil companies, this policy demonstrates a significant deviation from the global paradigm of holding operators responsible for accidents at the job site. This opens a lot of uncertainty for drilling contractors. It will most likely increase insurance premiums and potentially eliminate coverage’s for all American companies. This could ultimately lead to over 200,000 jobs lost as well.
Many contracting companies have said how difficult it has been the past decade to find coverage all together for their companies and is starting to hurt business. U.S. Risk offers insurance for drilling contractors that are land based oil and gas exploration oriented. The staff of specialty underwriters is highly experienced and provides agents with superior customer service and insured’s with comprehensive coverage. Let U.S. Risk help you protect your drilling business and protect thousands of jobs.
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