Services

We put local underwriting and claims handling at your fingertips. You benefit from agile, flexible capacity and quick response times.

We are fully licensed and can offer our clients $10MM limit for all lines, with excess capacity available. Understanding the market, clients' and brokers' needs allows us to be responsive to changing oil price environments.

Unmatched Support Structure

Palm is not just a provider of Insurance. We have the technical and risk management expertise to assist clients their overall risk mitigation programs.

The Partners of Palm Canada have introduced a new oil patch insurance facility and technical consultant, with a focus on junior E+P companies and service contractors. Clients will have access to an independent, privately owned MGA based in Calgary. Palm is supported by several international insurance companies. Palm is also supported by independent engineering and insurance consultants, providing clients with a unique offering not available elsewhere.

Risk Management Support

The vast majority of junior to mid-size energy companies do not employ a dedicated full time risk management professional. This does not mean that these companies do not require superior risk management advice and technical support.

Palm’s partners have the technical and risk management experience to assist companies with this critical task, ensuring that the company is appropriately insured and well protected in the event of a loss.

Products and Services

Property Damage / Boiler + Machinery / Business Interruption

All Risk of Physical loss or damage – subject to exclusions
Includes boiler and machinery breakdown
15 day waiting period for Business Interruption losses
Onsite clean up
$10 MM limit

Control of Well

Covers costs of regaining the well
Underground blowouts
Seepage & Pollution
Property in Care, Custody & Control
Rating is based on Meters of Drilling / Producing / Workovers

Comprehensive General Liability

Third Party Bodily Injury and Property Damage arising from operations of the Insured
Rating basis
- BOE/day for E+P companies
- Revenues for Service Companies
Sudden & Accidental Pollution – 30/90 day Discovery and Reporting
- $250k deductibles available

Directors’ and Officers’

Simple policy form with broad coverage to protect personal assets of D’s and O’s
No entity coverage – solely focused on protecting the D’s and O’s
Responsive to regulator claims for environmental and operational issues that result in claims against executives
$10MM limit available
Written on Duty to Defend basis with low Side B (indemnifiable deductibles)
Experienced team will present to Boards and educate Insureds on how to avoid claims

Risk Engineering and Assessment

Experience in the Field

One of Palm’s Partners, Peter McLelland, has had a distinguished career as an engineer specializing in the energy business. Peter has extensive experience providing engineering supervision for well control operations and blowouts, as well as conducting forensic investigations on losses arising from pipeline spills, production events, well control incidents and workplace fatalities.

Peter is available to Palm’s clients to provide technical assessments to evaluate the degree of risk associated with their specific operations, which will include risks that impact PD/BI, COW, CGL and D&O policies. Peter’s input can be used to inform companies and their management teams as to best industry practices, thereby making losses less likely.

Risk Retention Solutions

The retentions that a company is comfortable retaining are not always the retentions that the commercial insurance market is willing to entertain.

Companies may decide to take additional deductibles in their insurance programs, or may not be satisfied with the offerings of the commercial market. In these cases, a captive insurance company may be a solution. A captive is a risk management tool that enables companies to take more control of their insurance and risk management strategy, which is particularly useful in volatile commodity price environments. The captive structure can either be a wholly owned subsidiary, or a ‘rented’ segregated ‘cell’ within a captive core company. Palm can assist companies to understand the benefits and risks of each structure and to evaluate the various solutions. Palm, through its related Palm Global companies, can also implement and maintain the chosen solution.

Customer Service

Our goal is to exceed the expectations of our clients, both with the quality of our products and the excellence of our service.

If you have any issues with our products and services, or any complaints you wish to address, please contact us.