What it does
For the operations in the schedule (oil and gas lease operations, gasoline recovery and well servicing classes), CG 22 57 excludes "property damage" within the "underground resources and equipment hazard" and the cost of reducing that property to physical possession above ground or of preventing further damage. The hazard covers oil, gas, water and minerals not yet brought to the surface, any well, hole, formation or strata, and downhole casing, pipe, bits, tools and equipment.
Who needs it
Oil and gas operators, drillers and well service companies.
Key provisions and limits
- Applies to the CGL, Products/Completed Operations and OCP coverage parts.
Quoting and selling notes
- CG 22 62 provides underground resources and equipment coverage back.
