Berkley Oil & Gas Insurance Review & Complaints: Commercial Insurance (2024)

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Berkley Oil & Gas Specialty Services is a commercial insurance company focused on the needs of the energy industry. Their specialty products are available in all 50 states and cover offshore operations as well.

About W. R. Berkley Oil & Gas

Berkley Oil & Gas is a subsidiary of W. R. Berkley Corporation, which has been in business since 1967 and provides commercial insurance across a variety of industries. The multiple subsidiaries of the company diversify their coverage into a variety of niche industries including aviation, liquor liability, and commercial auto liability.

Created in 2009, Berkley Oil & Gas provides specialty insurance products to companies in the energy sector, particularly oil and gas industry as the name indicates. The subsidiary has its headquarters in Houston, Texas, conveniently located to a large portion of the nation’s oil industry.

Commercial package policies and individual products are available in all 50 states and are sold through a specific brokerage, J.H. Blades/Swett. Other independent agents may sell products in partnership with this brokerage.

Berkley Oil & Gas Products

All of the company’s products are specific to the industry they serve, although on the basic level they are similar to what is offered by most commercial insurance companies.

Commercial Auto is available to cover a variety of fleet sizes and vehicle types for liability and damage. Non-owned, leased, and hired vehicle coverage is also available.

General Liability and Commercial Umbrella policies are available to protect against liability risks including those specific to the industry, such as pollution risks and supplementary control of well.

Berkley Oil & Gas offers a specific Control of Well insurance policy that protects the company from the effects of an out of control well. This coverage applies to both onshore and offshore wells.

Inland Marine and Property coverage provides protection for equipment and property of the company, including tanks, pumps, and pipes, drills, site prep equipment, and fracking equipment, all of which are specific to the oil and gas industries.

Worker’s Compensation coverage is also available.

Rates

This company’s products are very specific, and rates are calculated using a wide variety of factors. It is not at all surprising that rate information and online quoting are not offered.

Rates can be obtained by speaking with an agent or broker to gather the required quoting information. Since these products are so very specific, it is difficult to provide any sort of rate comparison or value judgement.

Berkley Oil & Gas Insurance Claims Process

Ease of Filing a Claim (Online, Over the Phone, Mobile Apps)

Berkley Oil & Gas Insurance offers multiple convenient options for filing claims. Customers can choose to file their claims online through a user-friendly platform, over the phone via a toll-free claims line, or even through mobile apps for added accessibility.

This flexibility in the claims reporting process ensures that policyholders can choose the method that suits their preferences and needs.

Average Claim Processing Time

While specific details about claim processing times may not be provided on the company’s website, Berkley Oil & Gas Insurance emphasizes its commitment to handling claims promptly. They offer 24/7 claims reporting, which indicates their dedication to providing timely assistance to policyholders when they need it most.

Customer Feedback on Claim Resolutions and Payouts

Customer feedback is an essential aspect of evaluating an insurance company’s claims process. Berkley Oil & Gas Insurance has received positive feedback from customers regarding their claim resolutions and payouts.

With a 4.3-star rating based on Google reviews, the company demonstrates a track record of effectively addressing claims and meeting policyholders’ expectations.

Berkley Oil & Gas Insurance Digital and Technological Features

Mobile App Features and Functionality

Berkley Oil & Gas Insurance understands the importance of digital convenience. To enhance customer experience, they offer mobile apps with various features and functionalities. These apps allow policyholders to access their accounts, file claims, and manage their insurance needs on the go.

The availability of mobile apps reflects the company’s commitment to leveraging technology for customer convenience.

Online Account Management Capabilities

In addition to mobile apps, Berkley Oil & Gas Insurance provides robust online account management capabilities. Policyholders can log in to their accounts on the company’s website to view policy details, make payments, and access important documents.

This online platform empowers customers to have greater control and visibility into their insurance policies.

Digital Tools and Resources

Berkley Oil & Gas Insurance offers a range of digital tools and resources to assist policyholders in making informed decisions about their coverage. These resources may include educational materials, calculators, and risk assessment tools. By providing access to valuable digital tools, the company aims to support its customers in understanding their insurance options better.

Ratings and Consumer Reviews

Berkley Oil & Gas does not appear to have a Better Business Bureau (BBB) page, this has not changed from the time of our last review.

They do have six Google reviews with a 4.3-star rating overall. Only one review is negative, the rest are all five stars. The negative review is the only one with any detail to it and describes difficulty with obtaining a claim check.

We are not at all surprised that reviews for this company are minimal, given the very specific niche in which they operate. Commercial insurance companies focused on one sector tend to have little in the way of complaints and comments, in part because word of mouth is a more common method of gathering information, and in part because companies handle problems with their insurance companies through other channels.

The Bottom Line

Berkley Oil & Gas is a specialty company providing products to an industry where the options for insurance are more limited than with other commercial needs. It is difficult to judge such niche products, but we can say that we found no red flags or concerns when it comes to this company’s reputation.