We live energy, we live risk, we live service
You work hard to develop our natural resources into the energy that powers our world. The economic and political environment facing the Energy industry is forcing organizations to adopt a more integrated value chain. Our Energy team is reliable, knowledgeable and focused on the risks specific to the energy industry.
Our extensive data, in house analytics, industry leading claims team and world class engineering resources provide you the security of knowing that the scope of your coverage will match the needs of your organization.
Whether it is WCS, NYMEX, BRENT, or WTI pricing fluctuations—it is mainly the lack of egress and transport of our world class resources that is causing significant risk to our industry’s survival. Our Energy team helps you navigate the insurance and risk management strategies that are critical to your company’s survival. Our nimble and aggressive approach broadens your coverage, enhances your service, and cuts your overall cost of risk.
Discover your coverage solutions
PRODUCTION PROPERTY AND BUSINESS INTERRUPTION
We help you to identify and assess material business risks and put the appropriate insurance and risk management programs in place. We understand your specific operations from the ground up and the importance of mitigating business interruption. This critical insurance line is often misunderstood, and incorrectly addressed.
INTEGRATED DOWNSTREAM AND MARKETING SOLUTIONS
We help your organization with the financial, environmental, operational and political risks that a major integrated downstream operation faces every day. From refineries, petrochemical plants, terminals, processing plants, storage and transportation capacity—onshore or offshore, anywhere in the world—BFL CANADA has the knowledge and expertise to protect your investment. To ensure the refined products are making it to market in the appropriate cadence, it is critical to maintaining adequate ingress and egress of the process.
DIRECTORS AND OFFICERS LIABILITY AND EXECUTIVE RISKS
Protects your corporate entity and its directors’ and officers’ personal liability from third-party lawsuits and defence-related costs. Coverage should include employment practices liability, environmental liability defence costs, outside directorship liability and more.
CONSTRUCTION AND PROJECT MANAGEMENT
We maintain extensive resources to give you the confidence to successfully begin and complete the projects that fuel the global economy.
Your concept was generated, your financing is in place and your design specifications have been refined and finalized: it is time to execute.
Protecting this complex process is now the priority. BFL CANADA’s team understands the importance of that protection. Whether a multinational venture, facility expansion, or renewable energy innovation—we will be with you from inception to feasibility to execution, helping navigate the spectrum of possible risks your project can encounter.
Provides balance sheet protection for a significant pollution incident and addresses legislative, lender and stakeholder requirements. Our team will ensure that the appropriate protection is evaluated, implemented and monitored for your specific operational needs.
Assists in the assessment of third party liability exposures emanating from clients’ products, services and operations and design insurance programs to address those risks. Whether it is determining the appropriate deductibles and retentions, or formulating and negotiating a policy wording that can meet the requirements of the most arduous of third-party contracts—BFL CANADA’s Energy team has you covered.
We have a global network of talented professionals that understand your challenges and has the solutions to address these risks in every country you operate.
Entering new jurisdictions can present a host of legislative, regulatory compliance, tax, legal, and sanction considerations, in addition to stringent insurance regulations.
TRANSACTIONAL RISK SOLUTIONS
We help your company while you are acquiring, selling, or undergoing any significant structural changes. The BFL CANADA Energy and Transaction Advisory teams specialize in Mergers and Acquisitions Risk Solutions and can help you with Due Diligence Reports from Insurance Data Rooms, Representations and Warranties Insurance, Transactional Liability, Environmental Liability, Tax Impairment, Litigation Buyouts, etc.
TRADE CREDIT AND POLITICAL RISK
Covers the risk to your receivables under credit terms extended due to client insolvency. It offers protection against unexpected losses such as insolvency, bankruptcy, slow payment (non-payment) and political risk.
Insuring your buyer portfolio is the most cost-effective way to protect yourself against non-payment.
Political risk insurance products are highly customized to meet individual client needs and are intended to address risks such as expropriation, nationalization, labour strife and political unrest.
ENGINEERING AND RISK CONTROL EXPERTISE
We help you analyze and manage operational risks via risk engineering surveys inclusive of Maximum Foreseeable Loss (MFL) studies, limit adequacy assessments, fleet safety, insurance marketing support, fire protection system audits, loss prevention and any human element training programs that your company might be implementing.
PROFESSIONAL LIABILITY (ERRORS AND OMISSIONS)
Provides coverage not only for the costs of defending the insured but may also provide indemnity to compensate a third party who has suffered damages as a result of an error or accidental omission of the insured. It offers protection to enterprises or individuals whose clients could claim damages resulting from malpractice during the performance of services or the provision of advice.
Deals with and offers products such as:
- Bid bonds
- Consents of surety
- Prequalification confirmation letters
- Performance bonds
- Labour and material payment bonds
- Maintenance or warranty bonds
- Lien bonds
CLAIMS AND RECOVERY
We help you with claims reporting, administration and most of all advocacy to ensure you benefit from timely advice and the full breadth of the coverage afforded under your policies. The ultimate goal for BFL CANADA’s claims service is to ensure clients receive a fair claims settlement and reduce the overall impact of a loss and the subsequent adjustment and administrative process on your normal operations.
We regard the efficient negotiation and settlement of claims as one of the most important aspects of our service.
The BFL CANADA advantage in a competitive market
WHY DOING BUSINESS WITH BFL CANADA IS IN YOUR BEST INTEREST?
- We negotiate on your behalf to get the best protection, rate and deductibles.
- We work with you to develop tailor-made solutions adapted to your reality.
- We deal with all major insurers that specialize in your industry.
- We have offices across Canada to meet your local needs and partners in over 140 countries for your global ambitions.
- We are solution seekers for companies of all sizes and every industry.
At BFL CANADA, we help our clients get peace of mind. Most insurance policies require various insurance companies to share the risk. As your insurance broker, we are able to canvass the insurance marketplace, approach financially sound insurers and always act in your best interest.