Does your broker know his TMD from his TVD?

With over 100 years of cumulative oil and gas insurance experience, EnRisk is in a unique market position to understand and interpret your company’s needs. Our Risk Management services provide your company with the necessary contractual reviews and development of specific contracts that you may need during the course of your drilling, merger or acquisition activity. Many of our clients view EnRisk as their “outsourced risk manager” as a result of the services we provide. Our unique approach provides consultative services including a risk review of your company’s operations.

As your insurance broker, we understand it is not only about giving you a quote at the end of the day. All of our clients undergo a Risk Review to better understand the needs of their company. In doing this we are able to determine the appropriate avenues to transfer your company’s risk in the most efficient and economical way to you, your equity partners or your shareholders. In our view, commercially placed insurance is the final step of our review-not the first:

Customer requires customized Risk Management Services

• Conduct Exposure/Risk Review
• Develop customer service calendar

Mitigate Risk (see services below)

• Budgeting and Financial Management
• Contractual Liability Management
• Transactional Review
• Loss Control and Safety Management

Transfer Risk

• Contractual Transfer
• Financial Transfer
• Alternative Risk Products
• Traditional Insurance

The EnRisk Difference – Services

Budgeting and Financial Management

• Review surety programs for pricing improvements
• Allocate insurance premiums for joint interest billings (JIB’s)
• Assistance with quarterly reporting
• Provide premium estimates for budgeting process

Contractual Liability Management

• Review and advise on contract issues concerning indemnities, hold harmless agreements and insurance requirements
• Work with client’s attorney
• Provide contract templates that include common industry language along with state-specific wording unique to the client’s area(s) of operation
• In-depth review of all outstanding contracts to include:
  • Master Service Agreements
  • Joint Operating Agreements
  • Drilling Contracts
  • Well Services Agreements
  • Purchase and Sale Agreements
  • All related insurance exhibits
  • Construction Related Contracts
  • Loading Contracts
  • Production Agreements

Transactions

• Purchase and Sale Agreements - EnRisk will review and advise on the indemnity and insurance issues, including coordination of policies, claims made issues, tail exposure, etc.
  • Insurance Due Diligence
  • Environmental Products for known and unknown exposures
  • Other Alternative Risk Transfer Products to assist in your deal structure

Claims and Loss Control Management Services

EnRisk will provide the following claims service and expertise that we believe sets us apart:

• Responsibility for all claim issues remain within our energy team
• Pre-agree claims adjusters with markets
• We will provide claims procedures to assist your personnel in proper handling and reporting of losses
• Develop necessary claim information for submission to claim adjusters and underwriters
• Assistance throughout a claim situation
• Quarterly reporting of the status of a claim, and more frequent reporting when appropriate
• Follow up with markets for timely payment of claims

Risk Control and Safety Management

• Conduct audit of practices and procedures as required
• Develop plan for Risk Control Services as required