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OVERVIEW AND TOPICS
Risk Management Essentials for the Energy Industry
The energy industry describes a complex and interrelated network of companies, directly and indirectly involved in the production and distribution of energy. Because this is an industry spanning global markets across international economies, the energy sector isn’t immune to emerging risks and should be ready to face these critical issues as they continue to emerge. This 4-hour course begins with an overview of a typical marine terminal and basic risk assessment of the energy industry. Participants will identify the important risks and coverage issues unique to the energy industry – workers compensation, MTOL, vessel coverage, auto liability, 3rd party auto, rail car liability, pollution, cargo, credit and financial issues, international coverage. They will learn the importance of reading and understanding the definitions and coverage afforded in the insurance policies, as well as how to apply the various exclusions and their relevance to the day-to-day operation to the energy risk
Risk Control for the Energy Industry
Managing risks associated with the energy industry is becoming increasingly complicated due to factors, such as: government regulations, public policy, financial concerns, and energy resource scarcity. This 4-hour course begins with an overview of the energy subdivisions and the businesses that support them. Participants will review the exposures for these businesses and the control methods that can be used to manage the losses. They will learn the importance of the risk management process from an energy insurance professional’s perspective. They will review each step and understand how to apply the concept within the energy industry. They will learn how risk control works by examining real-life examples unique to the energy industry – solar, wind, gas, oil, hydro, nuclear, thermal, and more. They will discuss how controlling energy risks can provide greater market assurance for companies, insurance companies, banks, and manufacturers who work with these energy companies.
Energy, Oil & Gas Risk Management Considerations
Due to continuous innovations as well as a dynamic industry structure and environmental changes, the energy sector is exposed to many different risks. After an introduction on Master Service Agreements (MSAs), participants will learn why and how they are used in the energy industry. They will learn what a MSA should include, advantages of using a MSA, and what to watch out for when using a MSA. They will discuss MSA insurance considerations, such as: pollution liability (environmental impairment, contractor’s pollution, sudden & accidental vs. non-sudden & gradual) and additional insured issues in favor of the company (ongoing operations, completed operations, tail clauses, waiver of subrogation, primary/non-contributory, etc.). They will examine specialty coverages regarding energy risks including leased/rented/borrowed property, drilling compounds, underground buyback, indirect losses, motor truck cargo, and rigger’s legal liability.
Contractual Indemnity and Additional Insured Considerations for the Energy Sector
As the energy sector continues to evolve, their organizations are looking for ways to help successfully identify, manage, and mitigate contractual risks for their specific needs. This course begins with an overview of risk transfer – reasons for transferring risks and methods used to transfer risk. Participants will be able to describe how indemnification found in contracts is different from insurance and how certain insurance policies interact with such contractual indemnification requests. They will be able to explain what obligations are contained inside the contract that the insurance policy will not be able to cover. They will discuss examples showing various contractual phrases as well as coverage language excerpts from the Commercial General Liability Policy. They will look at examples of Additional Insured endorsements, showing various approaches taken by insurance carriers when offering to modify the CGL, and how such modifications will affect the outcome of losses.
15747 John F. Kennedy Airport Blvd.
Houston, TX
77032
281.848.4000
FACULTY BIO
David Hershey
David Hershey is the Corporate Risk Manager for Lexa International. Prior to joining Lexa, his experience includes the role of Risk Manager for Sprague Operating Resources (SLRP), and Sotheby Holdings, NYC (NYSE: BID) one of the world’s premier auction houses and Day & Zimmermann, a large international military contractor providing military base, nuclear and fossil fuel power plant maintenance / support services.
David is the Past President of the Massachusetts RIMS Chapter, Board Member of the NH CPCU, MA RIMS, and a Member of the Hartford Global Specialty Lines Advisory Council. He is a published author of several pollution coverage and insurance related articles such as Finite Risk, The Risk Management of Brownfields, Pollution Liability Coverage Loopholes, Maritime Employers Liability, Indemnitees, Additional Insured and the Insurance Certificate.
His accomplishments include being a finalist as the manager of the Workers’ Compensation Best Managed Workers’ compensation Program sponsored by National Underwriter and recipient of the 2014 Risk Management All Star and the Risk Manager Responsibility award by Risk & Insurance and Liberty Mutual.
Other notable accomplishments include instructor of insurance related courses and the Insurance Library of Boston and the Philadelphia Insurance Library. David is also an expert witness, past Board Member of RIMS External Affairs Committee, current member RIMS Standards & Practices Committee, 2009 winner of Zurich Award for largest decrease in WC claims, and co-author of RIMS Claims Handling Guidebook for Risk Managers. He is a current member of the Association of Certified Fraud Examiners, and proficiency in nuclear liability, munitions manufacturing and international coverage placement and coordination, large casualty, program agreement negotiation, risk financing and pollution coverage.
Robert Ford
Bob started in the insurance business at age 19, when he was hired by Nodak Mutual Insurance Company as a territory producer in Wahpeton, North Dakota, and later transferred to Dickinson North Dakota.
Bob returned in 1978 to Devils Lake, North Dakota to work in and purchase the family run agency. Bob sold his agency in 1998 and continued a 48-year career as a CEO, Regional Lead., Claims Dept. Lead, Personal Lines Dept. Lead, and Producer.
Over the years Bob has since involved himself in the insurance industry in several ways. Early in his career he started training with the IIAA of Iowa at the University of Iowa on an annual basis with their agency management school. These sessions were led by nationally known Dr. Emmett Vaughn. Those sessions helped Bob to lay the foundation for a good understanding of the insurance industry and the agency company relationships.
Bob has also served on the Board of Directors for North Dakota PIA (Professional Insurance Agents) for 13 years. During that time his favorite activity was chairing the education committee. He held that position for eight years. Bob especially enjoyed chairing the education committee because in his view a good technical education is critical to a successful career in the insurance industry. He has also been privileged to serve as North Dakota PIA President and has also served as North Dakota PIA National Director.
To further his education, Bob completed his CIC designation in 2001, and his CISR designation in 2006. In addition, he has earned the following insurance designations, CPIA (Certified Professional Insurance Agent), CLCS (Commercial Lines Coverage Specialist), MLIS (Management Liability Insurance Specialist), ERIS (Energy Risk Insurance Specialist) and CRIS (Construction Risk Insurance Specialist).
Enjoying education so much, Bob continues his educational pursuits by teaching many insurance workshops each year around the country and is also a member of the national faculty for The Risk and Education Alliance.
Ronald Hicks
Ronald Hicks is a loss control consultant. Ron has prior experience as a risk management consultant and Ron was a producer for 20 years. He has a degree in Psychology from Temple University, and earned his CIC designation in 2006, and his CRM designation in 2012. In addition to his CIC and CRM designations, he also holds the Construction Risk and Insurance Specialist (CRIS) designation from IRMI. In addition to his designations, Ron is an OSHA authorized 10 and 30-hour construction trainer.
Ron has experience in working directly with companies to assist them in reducing their insurable and non-insurable losses. His work includes analyzing losses to determine trending concerns, working with companies to increase the results from their safety programs, facilitating safety committees, reviewing risk control techniques, assisting clients in strengthening contractual risk transfer language, and training.
Ron's experience with companies is broad in size and industry. They range from small family-owned manufacturers to national railroads and global print media organizations. He brings a unique aspect of loss control to his clients. Having an understanding of insurance policy language, claims experience, and safety training; Ron is able to bring a unique perspective to the loss control process. He is just as comfortable walking on a construction site with a hard hat on as he is training workers how to perform their tasks in a safe manner.
