Energy Sector Ventures Risk Identification and Solutions
WE LIVE ENERGY, WE LIVE RISK, WE LIVE SERVICE
You work hard to develop natural resources into the energy that powers our world. Part of that is having to adapt to the current sociopolitical environment and getting your organization to adopt a more integrated value chain. Pursuing successful energy ventures requires a risk management plan that can take you there.
Because unexpected hazards can thwart growth and success, it’s vital to pinpoint them at the outset of your risk management strategy. To avoid getting blindsided, BFL CANADA can help you detect them before they become an unresolvable issue that stands in your way.
See the blind sides of your risks from every angle
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BFL CANADA’S energy team has world-class engineering resources and extensive industry knowledge to provide you with the coverage solutions you need to protect your organization and face the uncertainty that comes with all energy ventures, regardless of your sector.
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.
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.
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.
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.
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.
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.
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.
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
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.
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The BFL CANADA advantage
BFL CANADA has achieved extraordinary growth because of our consistent ability to perform and deliver due to our expertise, professionalism and dedication, as well as our entrepreneurial culture. This culture and work ethic have driven our growth and attracted organizations with which we have established meaningful and mutually beneficial partnerships.