Do Energy Companies Need Insurance?

Companies that supply energy to consumers can pose a variety of hazards to employees, customers and the environment. It is important to have energy company insurance in order to cover liability.

Photovoltaic Panel Installers

Workers who install solar panels on the roofs of homes and businesses are at risk of falling. When this happens, the worker might die or be hospitalized with serious injuries. The company will likely be held responsible for both medical and legal bills.

Oil Well Drillers

Oil wells are highly dangerous industrial sites. One error can result in millions of gallons of oil being released into the ocean or soil, and sooner or later these toxic chemicals will destroy freshwater supplies. The environmental damages caused by these types of accidents can never be remediated, and the company responsible can face billions of dollars in fines and clean-up expenses. The financial 

Fuel Delivery Companies

Trucks that deliver fuel for home heating furnaces face myriad problems between the point of load up and delivery. Accidents can happen and can result in the release of thousands of gallons of oil onto the ground. When this happens, the company responsible may face financial costs for the environmental damages and will need insurance to cover the expenses.

Whatever the business offers, an energy company needs insurance to cover the risks.