Advisen wrote a white paper that examines the risks faced by companies in the energy sector. It also looks into risk preparedness and the role of insurance in addressing energy risks. The free, 4-page paper is sponsored by Starr Companies.
Energy companies frequently operate in volatile and often politically charged economic and business environments which can result in rapid changes to their risk profiles. Factors such as energy price volatility, changing technology, regulatory scrutiny, and political instability increasingly expose organizations to risk.
On the heels of major catastrophes such as the BP oil spill there is increased focus on energy company risk preparedness. This increased focus requires most energy companies to implement demanding risk management solutions in order to comply with new laws and regulations.
A comprehensive insurance program from an insurance carrier who specializes in energy risks can help energy companies successfully navigate a changing risk landscape.
Whether the company’s focus is upstream, midstream, or downstream energy, if it is a utility, or a contractor, a well-designed program will address the unique exposures of each individual insured.