|OIPA's membership benefits programs offer association members significant cost savings on products and services necessary for the day-to-day operation of oil and natural gas exploration and production companies and the businesses that support them.|
BITCO Insurance Companies
BITCO Insurance Companies returned $534,326.50 in 2014 to OIPA members who participated in the OIPA Safety Group Dividend Plan.
The BITCO Insurance program offers qualifying members the possibility of a dividend payment each year.* BITCO’S broad coverages include general, umbrella and pollution liability, workers comp, property, inland marine and commercial auto at competitive rates and the possibility of a dividend each year.
Nearly $6 million has been returned to OIPA members since the program’s inception in 2003. If your agent is a BITCO agent, ask them to tell the underwriter that you would like to participate in the OIPA/BITCO plan. If you are already insured with BITCO, your agent can put you in the program at your next renewal.
Dividends cannot be legally guaranteed and are subject to approval of the BITCO Board of Directors. Historically, BITCO has never failed to declare/pay a dividend in accordance with approved dividend plans. They are usually paid in June. For example, in June 2008, participants in the program received 28 percent of their 2006-2007 premiums back in a dividend check. The program is based on premiums from July to the next July.
Burke-Daniels offers OIPA members an exclusive discount on a variety of insurance products, including control of well, risk reduction, and loss control benefits.
The OIPA’s control of well program through Burke-Daniels Co. Inc., now part of the J. H. Blades & Co. Inc. team, offers an upfront discount for qualifying participants in the OIPA pool.
OIPA members can obtain control of well insurance at a discounted rate through a variety of different underwriters for every size client and well type.
Each OIPA member’s own insurance agent will handle the account and will be paid standard commissions. The program includes complimentary Blowout Contingency Planning by Cudd Well Control, well control training and a 15 percent discount on Drilling Plan Reviews and Enhancement and Rig Inspections.
Available for both operators and non-operators, the program offers competitive rating with specific program rate credits,and offers the lowest possible minimum premiums for those smaller clients who have been "priced out" of the market for Cost of Control in the past.
Blue Cross Blue Shield
In 2014, BlueCross BlueShield provided eligible OIPA member companies with a 3 percent rate discount for maintaining 100 percent participation of eligible employees.
The OIPA’s health insurance program is open to companies with 51-150 employees and offers qualifying OIPA members a rate adjustment on Blue Cross Blue Shield services.
Existing Blue Cross Blue Shield customers are eligible to participate in the OIPA program upon plan anniversary. Companies must be based in Oklahoma, and certain SIC codes are required.
ADP offers OIPA members a 25 percent discount on ADP services including human resources, payroll, tax benefits, and administration.
With over $12 billion in revenue and nearly 700,000 clients, ADP is one of the world’s largest providers of business outsourcing solutions. They offer companies a one-stop spot to handle human resources, payroll, tax benefits, and administration.
ADP can help oil and gas producers from hire to retire offering everything from background checks for new employees to 401K plan administration.