The Basics of Downstream Insurance

The conversion of crude oil into both fuel and the myriad of petroleum products used in daily life is an intricate web of diverse enterprises. Downstream coverage for businesses is far from one-size-fits-all. What is it? What does it cover? Who needs it? Learn more in this quick downstream energy guide.

What Downstream Energy Coverage Includes

Insurance for downstream business operations can include these options:

• Property damage coverage
• Boiler explosion/machinery breakdown
• Builder's risk coverage
• Political risk/sabotage and terrorism
• Kidnap and ransom insurance
• Pollution legal liability/contractors pollution liability
• Business interruption insurance

Your specific needs will depend on your unique risk profile and services you provide. We recommend speaking with our industry experts to determine the insurance program you need for your business.

Who is Included in the Downstream Sector?

• Refining FCC/hydro skimming
• Processing risks refineries
• Petrochemical plants
• LNG liquefaction plants and terminals
• Gas processing plants
• Gas to gas liquids (GGTL) plants
• Tank farms and terminals for crude, gas, and petroleum products
• Biofuels production
• Transit risks by road, rail, or sea
• Business that process oil and gas, polymers, fertilizers, plastics, and chemicals

This isn't an all-inclusive list. If you're in the gas sector, you may fall into the downstream energy industry category.

Why You Need Downstream Coverage

Petroleum processing and refining, as well as the transportation and sale of refined products, require a thorough examination of risk for each individual undertaking. Whether your refinery is producing light, medium, or heavy petroleum products, or you're engaging in marketing or distribution, your downstream coverage needs to be part of a specially designed risk management plan.

Professional guidance, in the form of an experienced agent that understands the nuances of downstream businesses and their insurance requirements, is the underpinning your company needs in order to sustain success and continue to grow. Market cycles may fluctuate, but your risks and liabilities do not. Navigating changes in the business environment while keeping your insurance interests safeguarded is a must.

Get a Free Quote for Downstream Coverage

There are a LOT of providers out there for the downstream energy sector. Every provider claims to have a global presence, extensive risk management, and provide all of the solutions you can possibly need. But truly understanding how the insurance solutions differ can be overwhelming— we get it.

Let us guide you through the process to you find protection for your business and put your mind at ease. At Tivly, our goal is to get you an affordable commercial insurance quote. To get a competitive insurance quote it is fast and easy, enter your zip code and click “Get Quote.” One of our specialists will contact you soon.

Further Reading:

• Oil and Gas Insurance
• Midstream Insurance
• Upstream Insurance