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Case Study:

Customized Solution for Unique Cyber Exposure

AssuredPartners Energy

AssuredPartners Energy
AssuredPartners Energy
Quick Facts icon

Quick Facts

Industry: Upstream Oil & Gas

Location: North Dakota

Type of Insurance: Full Property & Casualty Program

Valued Client Since: 2016

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The client had developed a new technology whereby they were going to re-route previously flared gas on the wellsite, to power a group of computer banks to mine for cryptocurrency. This operation was more environmentally-friendly in that gas would no longer be flared and had the potential to be very profitable for the client as the biggest cost in cryptocurrency mining is the power generation. The issue was this operation was new to the insurance market - was it a technology risk, an oil and gas risk, or both?

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AssuredPartners was able to tailor a unique program specific to this client that contemplated both the oil and gas exposures they would have at the wellsite (including the contractual provisions of the MSA to get on location), as well as the potential cyber exposures from the cryptocurrency mining.

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With a strong insurance program behind them, the client has been able to aggressively expand operations, and are now operational in multiple basins throughout the country.