Travelers announced this week that it is offering Control of Well coverage on an admitted basis to upstream oil and gas clients. This coverage will be immediately available on an admitted basis in 25 states, and is expected to be available in most other states in 2011.
With this announcement Travelers combines Control of Well coverage and specialized support services for incident prevention and well control management, all in one admitted insurance package.
"For more than 20 years, Travelers has been committed to delivering tailored solutions to the oil and gas upstream sector," said Richard G. Gustafson, President, Travelers Oil & Gas. "We are also dedicated to making the industry safer by offering highly specialized risk control services and coverages. By making Control of Well coverage available on an admitted basis, we are providing agents and brokers the ability to access our full product portfolio for the industry through a single point of contact - the Travelers account executive - who will be able to write Travelers Oil & Gas casualty business with wet or offshore exposures as well as Control of Well."