Insurance for Natural Resources Companies

Solar Panel

Industry overview

The natural resources sectors are rapidly evolving and present significant risks. Companies rely on complex infrastructure in hazardous environments and must prioritize safety and business continuity. As consumer behaviors shift and technology advances, it's essential to fully understand risks and exposures. Chubb offers the insight, expertise, products, and services necessary for comprehensive insurance and risk-mitigation solutions, servicing the industry segments for nearly 40 years.

What is Natural Resources insurance?

Natural Resources insurance helps protect companies in the power generation, utilities, oil & gas, and mining sectors with comprehensive insurance and risk-mitigation solutions. It also supports clients across the project life cycle, from pre-development through construction and operations.

What coverage does Chubb provide?

Chubb offers coverage including Builders’ Risk, Primary Casualty, Property, Machinery, Excess/Umbrella, Owners’ Interest Breakdown, Commercial Auto Liability, and Environmental. Additional offerings include Financial Lines, Multinational, Marine, Surety, and Accident & Health. These solutions are part of a broader suite built for Natural Resources clients.

Who is it for?

This insurance is designed for businesses in renewable power, alternative fuels, and energy, power, and mining, such as solar, wind, battery energy storage, biogas, fuel cells, geothermal, biomass, biofuels, and renewable natural gas companies. It also includes independent power producers, mining contractors, oilfield service contractors, refiners, and petrochemical manufacturers.

What services does Chubb provide?

Chubb offers expert underwriting, superior claims service and risk consulting services to help clients identify exposures and reduce losses. Our services are backed by specialized industry experience and educational resources.

Use case example

An operational solar account was written with General Liability, Umbrella, and Auto coverage, showing Chubb’s ability to provide a comprehensive multi-line offering.

Who we serve

Chubb’s Natural Resources practice is focused on providing comprehensive coverages and services to clients engaged in:

Renewable Power:

  • Solar
  • Wind
  • Battery Energy Storage
  • Biogas to Power
  • Fuel Cells
  • Geothermal
  • Biomass
  • Other Emerging Technologies

Alternative Fuels:

  • Biofuels
  • Renewable Natural Gas
  • Synfuels
  • Hydrogen

Energy, Power, and Mining:

  • Independent Power Production
  • Natural Gas Power Generation
  • Surface & Underground Mining
  • Mining Contractors
  • Oil and Gas Lease Operators & Owners
  • Petroleum Equipment Leasing
  • Oilfield Service Contractors
  • Midstream Operators and Contractors
  • Refiners and Petrochemical Manufacturers
  • Oilfield Equipment Manufacturers
  • Chemical Manufacturers and Distributors

Products and services

Chubb has 25+ years of experience protecting renewable energy businesses. We provide scalable and modular insurance products that can grow with you over time, whether you are a start-up or global operation.

Commercial auto insurance

Protect against vehicle operation exposures with our experts solutions - including enhanced policy features, driver training programs and digital tools to asses, manage and mitigate.

Umbrella & excess casualty

Our robust, feature-rich policies offer insurance protection over and above your underlying policy limits and coverage options for your organization's unique exposures

Builders risk insurance

First-party insurance offering coverage for loss or damage to property in the course of construction and delay in opening.

General liability insurance

Coverage can be purchased, packaged or monoline and include a blend of traditional insurance and alternative risk financing mechanisms to help manage your company’s liability risk.

Property insurance with equipment breakdown

Industry-specific coverage that can be purchased, packaged or monoline for losses caused by equipment breakdowns, with a focus on getting your company back to business as soon as possible.

Financial lines solutions and services

Our broad range of financial lines products protect companies, employees and customers against financial risk. Whether offering advice, delivering a service, or navigating complex regulatory environments, we insure businesses across a variety of industries.

Explore Chubb’s Commercial Risk Appetite Tool

Understanding our risk appetite is essential when designing insurance programs for clients. This tool gives a clear, specific overview of the types of risks Chubb is best suited to write, organized for easy reference. With unmatched expertise, tailored solutions, and an appetite spanning 90% of GDP, Chubb helps empower commercial businesses with confidence.

Commercial package insurance

In addition to coverage for large, multinational companies, Chubb covers small and midsize businesses three package policy options — Business Owners Policy (BOP), Benchmarq, and Customarq. Each combines property, business income, and general liability insurance, and can be tailored for your specific exposures.

Business owners policy (BOP)

Protect your small business with this customizable insurance package policy. 

Benchmarq

Designed to be scalable for small to midsize businesses, Benchmarq is a flexible, customizable package including property, business income, and general liability insurance. 

Customarq

Our proprietary package product offers midsize businesses property, business income, and general liability insurance with a wealth of options to suit your needs. 

Frequently asked questions

Our risk engineering team provides a consulting service to help clients determine their carbon footprint and identify opportunities to reduce their emissions and resulting climate impact. We can also help model the exposures faced by your business operations to climate-related risks, such as windstorms, flooding, and wildfires.

We can provide scalable insurance solutions to meet a broad range of requirements, as well as customized coverage programs for large-scale and multinational clients. Our primary casualty, excess liability, and financial lines have specialist underwriting teams. And our cleantech industry practice offers expertise in all renewable energy technologies.

At Chubb we are fully aware of the reality of climate change and the impact we are having on our planet. We encourage and expect a transition to greater reliance on alternative and renewable fuel solutions to meet our energy needs.

 

In accordance with our policies, we will generally not underwrite risks related to the construction or operation of new coal-fired plants. Nor will we underwrite new risks for companies that generate more than 30% of revenues from thermal coal mining, or for companies that generate more than 30% of their energy production from coal.

 

See the Full Chubb Coal Policy

Yes. Chubb offers upstream energy coverage for oil and gas companies and their contractors.  Visit our site to learn more. 

Interested in learning more about Chubb's Natural Resources Practice?

Resources

To learn how Chubb supports businesses with Natural Resources solutions, contact us.

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Note: The claim scenarios described here are intended to show the types of situations that may result in claims. These scenarios should not be compared to any other claim. Whether or to what extent a particular loss is covered depends on the facts and circumstances of the loss, the terms and conditions of the policy as issued and applicable law. Facts may have been changed to protect privacy of the parties involved.

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