GL Class Code 98150 - Oil or Natural Gas Lease Operations
Are you searching for the General Liability Class Code 98150 - Oil or Natural Gas Lease Operations?
Get information about this GL class code and its related North American Industry Classification System (NAICS), National Council on Compensation Insurance (NCCI) and Standard Industrial Classification (SIC) codes.
The General Liability Class Code 98150 - Oil or Natural Gas Lease Operations. Learn more about GL Code 98150 and it's related NAICS, NCCI and SIC codes.
- What Is The Description Of The General Liability Class Code 98150?
- What Are The Related SIC Code(s) for GL Code 98150?
What Is The Description Of The General Liability Class Code 98150?
The description for GL Class Code 98150 is: Oil or Natural Gas Lease Operations.
What Are The Related SIC Code(s) for GL Code 98150?
The related SIC Code(s) for General Liability Class Code 98150 - Oil or Natural Gas Lease Operations is:
Description for 1311 Crude Petroleum and Natural Gas
Establishments primarily engaged in operating oil and gas field properties. Such activities may include exploration for crude petroleum and natural gas; drilling, completing, and equipping wells; operation of separators, emulsion breakers, desilting equipment, and field gathering lines for crude petroleum; and all other activities in the preparation of oil and gas up to the point of shipment from the producing property. This industry includes the production of oil through the mining and extraction of oil from oil shale and oil sands and the production of gas and hydrocarbon liquids through gasification, liquid faction, and pyrolysis of coal at the mine site. Also included are establishments which have complete responsibility for operating oil and gas wells for others on a contract or fee basis. Establishments primarily engaged in performing oil field services for operators on a contract or fee basis are classified in Industry Group 138.
- Coal gasification at the mine site
- Coal liquefaction at the mine site
- Coal pyrolysis at the mine site
- Crude oil production
- Crude petroleum production
- Kerogen processing
- Natural gas production
- Oil sand mining
- Oil shale mining
- Tar sands mining
GL Class Code 98150 - The Bottom Line
The General Liability Class Code for Oil or Natural Gas Lease Operations is 98150.
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Get useful tips and information about how much commercial insurance costs, small business risks and exposures, how insurance regulations effect your businesses' and detailed descriptions of coverages and exclusions and more. Most small businesses need to buy the following four types of insurance at a minimum to cover their operations from every day risks:
Property Insurance: This policy covers a business if the property used in the business is damaged or stolen as the result of common perils like fire or theft. Commercial property insurance covers the buildings, structures and also business personal property - which includes furniture, inventory, raw materials, machinery, computers and other items.
Liability Insurance: Any company can be sued. Slip-and fall lawsuits are very common and be costly. Customers can claim you injured them or damaged their property - and lawsuits are very expensive. Commercial liability insurance pays damages and can include attorney's fees and other legal expenses. It also ca pay for the medical bills of injured third parties
Commercial Auto Insurance: For vehicles owned by the business. Commercial auto insurance pays bodily injury or property damage costs for which the business is found liable - up the the policy limits for liability and property damage.
Workers Compensation Insurance: In almost every state employers must provide workers comp when there are W2 employees. Workers compensation pays for the medical care of employees and can replace a portion of lost wages - regardless of who was at fault for the injuries.