For drilling, servicing, and other contractors, the costs of on-the-job injuries and illnesses are the most significant component of total cost of risk. While much of the cost is driven by state workers compensation laws, many energy companies have operations on or near bodies of water. In those situations, their obligations to provide compensation for injured workers may stem from federal laws such as the federal Longshore and Harbor Workers’ Compensation Act, the Jones Act, or general maritime law, in addition to traditional workers compensation laws. This course discusses the interaction of workers compensation insurance with state and federal workers compensation laws and how changes in these Acts and regulations have profound effects on the insurance line.   

Upon completion, students will be able to:

• identify the scope of coverage provided under the workers compensation policy and utilize this information to select appropriate recommendations for coverages needed by a given energy industry employer;
• identify the effect of various workers compensation endorsements and specific coverage enhancements valuable to a given employer;
• recognize the mechanics of the workers compensation marketplace and identify the options open to a given employer to fulfill the requirements of the workers compensation laws; and
• recognize energy industry employments that may be subject to federal workers compensation statutes or maritime law and identify ways of insuring those exposures.

Property and casualty risk, safety, insurance, and finance professionals