Property and Equipment Insurance for Canadian Energy Businesses

Canadian energy companies depend on specialized buildings, machinery, mobile equipment, tools and inventory to maintain their operations. Damage to these assets can result in costly repairs, replacement expenses and interruptions to the business.

SWS supports retail insurance brokers seeking property and equipment coverage for oilfield contractors, energy producers, manufacturers, rental businesses and other companies serving Canada’s energy sector.

Coverage for Specialized Energy Assets

Property and equipment needs vary considerably between businesses. A contractor operating mobile equipment has different exposures from a manufacturer, drilling company, production facility or equipment-rental operation.

Depending on the risk, coverage considerations may include:

• Commercial buildings and contents

• Machinery and production equipment

• Contractors’ equipment

• Mobile oilfield equipment

• Tools and inventory

• Equipment in transit

• Equipment breakdown

• Business interruption

• Contingent business interruption

• Replacement-cost or agreed-value options

• Other specialized property exposures

Understanding How the Equipment Is Used

Accurate values are only one part of the underwriting process. Insurers may also consider:

• Where equipment is stored and operated

• Whether assets are owned, leased or rented

• Transportation and off-site exposures

• Maintenance and inspection practices

• Fire and theft protection

• Operator experience

• Contractual responsibilities

• Prior losses and risk improvements

SWS works with the retail broker to develop a clear picture of the client’s assets and operations before approaching suitable insurance markets.

Market Access for Difficult-to-Place Assets

High values, specialized uses, remote operations or previous losses can make some property and equipment risks difficult to place through standard commercial markets.

Through domestic and international market relationships, SWS helps broker partners explore practical insurance options for complex Canadian energy-property risks.