ISN Publishes its First Insurance Benchmarking Report
ISN is pleased to release its first insurance benchmarking report, Insurance Requirements for Contractors: Hiring Client Peer Group Benchmarking, U.S., Oil & Gas Industry. This report focuses on providing insurance policy limits and coverage details for the following industry peer groups: Upstream Oil & Gas (Onshore), Upstream Oil & Gas (Offshore), Midstream Oil & Gas (Pipeline) and Downstream Oil & Gas (Refining).
What To Expect
The report delivers detailed information on the insurance requirements established by ISN’s Hiring Clients for contractors in their respective peer group, as well as cross-industry benchmarking comparisons. Within the report, the high and low range are provided for each requirement along with the average amount of coverage required. Additionally, the report includes details on the percentage of Hiring Clients requiring a particular type of coverage or policy condition.
U.S. Oil & Gas Hiring Clients are able to use this information to compare how their insurance requirements align with other Hiring Clients in their industry. Data from more than 110 Hiring Clients across four Oil & Gas industry groups and nearly 20,000 Contractor Companies was compiled to develop this benchmarking publication.
Dag Yemenu, Senior Vice President, Technical and Customer Services at ISN, states “It is important for us to be able to share this information among our Hiring Clients as these statistics can be used to help establish data-driven, objective baselines for setting contractor insurance requirements and to assess various risk management strategies.”
Access Your Copy
To view this report and other publications issues by ISN, visit the ISN Publications page.