What does Relief Well Coverage mean? Read on to discover the definition & meaning of the term Relief Well Coverage - to help you better understand the language used in insurance policies.
Relief Well Coverage
Coverage for the cost of drilling a new well for the purpose of releasing underground pressure to assist in bringing a wild oil or gas well under control. It is an optional operators extra expense (OEE) policy coverage.
More Insurance Terms And Definitions
The Merriam-Webster Dictionary defines insurance as:
b: Coverage by contract whereby one party undertakes to indemnify or guarantee another against loss by a specified contingency or peril.
c: The sum for which something is insured.
We hope the you have a better understanding of the meaning of Relief Well Coverage. If you are looking for the meanings of other important insurance terms and their definitions, just click on the letter below to find the words & concepts you are looking for: