energy industry News

Coal Mining Company Proposes Turning Kentucky Mine Into Solar Farm

A former strip mine would be converted into a solar farm under a proposal announced Tuesday by an Appalachian coal company that says it wants to place hundreds of thousands of panels in the Kentucky mountains. The Berkeley Energy Group, …

Canada’s Energy Firms at Risk from Cyber, Bomb Attacks: Security Service

Canada’s main spy agency last year warned energy companies about an increasing risk of cyber espionage and attacks on pipelines, oil storage and shipment facilities and power transmission towers using homemade explosives, according to a classified document seen by Reuters. …

Aon Launches Loss Estimating Risk Tool for Oil, Gas and Petrochemical Sectors

Aon Global Risk Consulting, in collaboration with TNO, a research agency, has launched the Aon Loss Estimating Risk Tool (ALERT), a new modelling tool for oil, gas and petrochemical clients. The new tool is able to model the potential financial …

Everest Insurance, AEGIS to Offer Coverage to Energy Industry

Everest Re Group, Ltd. has formed a strategic alliance between its U.S. primary specialty insurer, Everest National Insurance Co., and Associated Electric & Gas Insurance Services (AEGIS). This new partnership will provide primary admitted coverages to AEGIS members, and non-member …

Bad Companies Feel Shake-Out in Energy Sector the Most

While the per barrel oil price has rebounded somewhat after it plunged to under $45 per barrel in March 2015, the energy industry — and by extension the energy-focused insurance sector — continues to adjust to the impact of the …

Complex Energy Industry Requires ‘Power’ Underwriters

The energy industry is not a risk for every underwriter; it requires considerable underwriting expertise due to its complexity and rapid growth. “Power is one of the fastest growing segments in the U.S,” according to Tom Fitzgerald, CEO of Aon …

Energi, HDI-Gerling America Extend Partnership for the U.S. Energy Industry

Energi and HDI-Gerling America have entered into a multi-year agreement to extend their risk management and insurance programs to certain segments of the United States downstream, midstream and upstream energy markets. Energi provides distribution management, underwriting, policyholder services and loss …

Worldwide Facilities Partners with Beazley, Canopius to Offer Energy Insurance

Worldwide Facilities, Inc. has formed a strategic partnership with the Canopius and Beazley Lloyd’s of London syndicates to provide a new underwriting platform for land-based oil and gas lease operators. Products will be initially offered from Worldwide’s Houston office, which …

Energy Firms Unprotected for Major Cyber Events: Willis

Energy companies have no insurance against major cyber attacks, reinsurance broker Willis said, likening the threat to a “time bomb” that could cost the industry billions of dollars. Willis highlighted the industry’s vulnerability to cyber threats in its annual review …

Energi Opens Office in Chicago Area

Energi, a provider of risk management and insurance programs for the energy industry, has opened an office in Downers Grove, Ill. The new office, located at the Esplanade I, will provide operational support for Energi’s Midwest risk mitigation and insurance …