Top 6 key risks oil & gas companies need to consider from Aon

Aon offers independent oil & gas companies risk management expertise. They help clients mitigate the risks that they face including:

1. Operational risks such as fires, explosions, blowouts, or collisions can lead to a loss of production income for your company. We are focused on protecting your income and assets and our expertise in the upstream market ensures that your insurance program provides you with the coverage you need if a loss occurs
2. Natural disasters such as windstorms, earthquakes, floods, and hurricanes can cause a major disruption to your business. We can help you manage these risks by accessing additional market capacity for windstorm coverage or through our rapid response offering which ensures experienced claims professionals arrive on-site quickly after a disaster to initiate the recovery process
3. Claims inflation continues to rise as companies seek to extract oil and gas from harsher or more remote locations. Our teams have experience with the full spectrum of upstream drilling and production risks. The vast amount of business we place in this sector provides us with unmatched credibility with the insurance markets when we explain the steps our clients have taken to mitigate the adverse nature or location of a project. The end result for our clients is comprehensive insurance programs at a fair price
4. Environmental requirements continue to grow for both onshore and offshore operations. Deepwater operations and hydraulic fracturing techniques bring the potential for increased legislation that could severely affect independent operators. We create tailored programs for many upstream companies covering areas such as additional capacity for pollution cover and exposure coverage for potential water table and drinking well contamination. From short-term pollution policies to multi-year environmental policies we partner with you to develop the solution that is right for your organization
5. Construction risks continue to grow due to the significant costs involved in developing an offshore platform or onshore processing plant. Our construction specialists can help you manage this risk through solutions such as builder’s risk or owner controlled insurance programs. The team’s engineering capabilities enable us to work alongside our clients which differentiates us from the competition
6. Mergers and acquisitions present both opportunities and risks. We can provide assistance at each stage of the process including a valuation and an assessment of the insurability of an asset. Our global network of professionals ensures that we have the local resources in place to assist you in any new market you enter

Aon will be attending the World Independent Oil Companies Congress. Do you have any questions for them?

See also
10 reason to attend the World Independent Oil Companies Congress