Broker and insurance exchange set up oil & gas specialist

Calgary-based brokerage Jones Brown Inc. has joined with the Canadian Petroleum Insurance Exchange Ltd. (CPIXL) to set up a new oil & gas specialist operation. JB Oil & Gas Insurance Ltd. will offer insurance solutions and risk management aimed specifically at the energy industry.The CPIXL serves 242 members, underwriting coverage for the sector, and was looking for a partner to take over the sales function. “We were looking for an innovative Canadian insurance broker, with expertise in sales and special industry segments,” says Ross Collett, president of CIPXL. The exchange wanted to increase availability of its product for members. Members will also now have access to other p&c insurers for all lines of business including general liability, directors’ and officers’, liability, auto and more.”Oil and gas companies in Canada have specialized needs and we have both the industry and insurance expertise to serve those needs,” says JB Oil & Gas president Mark Terrill.