Energy- Fossil & Alternative
Over the last thirty years we have partnered with numerous companies involved in oil and gas production. While we can access virtually all of the major carriers, including all of the Lloyds of London syndicates, where we have many long-standing partnerships, we also have an experienced oil & gas team available to assist in the areas of program construction, market placement, loss control engineering advocacy and claims advocacy.
While all insurance underwriters have loss control engineers and claims personnel, to be certain their interests are protected; we have an experienced team to work for our clients, on their behalf, to be certain their interests are protected as well.
The following represents the types of operations we seek to partner with in area of fossil fuel production:
- Oil & Gas Exploration and Production
- Drilling and Well Servicing Contractors
- Energy Related Products Manufacturers
- Gas Gathering and Processing Operations
- Hazardous Waste Transportation
- Natural Gas Liquids Separation and Storage Facilities
- Petrochemical Manufacturers
- Pipeline Operations (including refined products pipelines)
- Refining/Storage/ Processing Operations
- Retail Gas Distribution
- Specialty Chemicals Manufacturing
- Utility/Power Generation Operations
- Underground Natural Gas and Gas Liquids Storage Operations
While fossil fuel production is continuing to gain interest in today’s times, environmental concerns have increased the number of companies making their mark in the renewable/alternative energy fields of solar, wind and bio-diesel and ethanol production.
Within these new fields, underwriters are seeing entirely new types of claims. Wind turbines are frequently damaged by lightning, while hail storms can severely damage solar energy facilities, costing millions in claims. And, it’s not an uncommon occurrence to see dryer fires in ethanol plants, something not seen before in any other industries.
With the high cost of new present day equipment, a wind turbine can cost more than one million dollars to construct, and owners need to be certain that all repairs are covered if the shaft in the turbine breaks and damages the gears in the generator. If an ethanol plant operator fails to open a valve and a tank implodes, the insurance coverage needs to be written to be certain that not only the tank will be repaired, but also to assure the lost income will be replaced until the plant gets back on line.