Definition - What does Pipeline Insurance mean?
Pipeline insurance is coverage for connected physical structures that transport gas or liquids from one location to another. It usually pays for damage to the structures themselves or injury to human beings.
Insuranceopedia explains Pipeline Insurance
Insurance for pipelines can be quite broad, since they are costly and there are various risks. As a means of transport, it also covers a very wide area. Because of this, pipeline insurance can cover property damage, liability, business interruption, and any other form of business loss.
The insurer will surely assess the condition of the pipeline and the possible perils considering its location. Before granting insurance, the insurer might also prescribe safety procedures, such as means of detecting and eliminating the causes of leaks and spills.
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