What it does
CG 22 62 is the coverage counterpart to CG 22 57. It provides coverage for property damage within the underground resources and equipment hazard: oil, gas, water and minerals not yet brought to the surface, wells, holes, formations and strata, and downhole casing, pipe, tools and equipment.
Who needs it
Well service and drilling contractors whose contracts make them responsible for damage to the well or reservoir.
Key provisions and limits
- Coverage terms, limits and any sublimit are on the form.
Quoting and selling notes
- Energy specialty markets often provide this coverage under their own forms.
