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E&P Pollution Liability: Current Challenges and Future Opportunities

Iridium was pleased to host close to 80 guests at a seminar entitled “E&P Pollution Liability: Current Challenges and Future Opportunities” on January 25, 2018.

The seminar provided a review of the current trends in terms and conditions available in the insurance market for upstream pollution coverage and provided a quantitative explanation for them through presentations from Chubb Canada and Ed. Broking – a leading Lloyd’s broker specializing in energy risks.

Never before seen spill analytics was provided by Charles Taylor Adjusting following their extensive analysis of claim data along with insightful new conclusions drawn from that data.

Pure Technologies concluded the seminar with an interesting review of smart pipeline integrity tools, their sensitivity and what that means for early leak detection.

A networking reception following the seminar allowed attendees the opportunity to discuss this topic with the presenters and among themselves.

Fraser Surrey Docks is undertaking significant changes to our operations and we were looking for an expert who would work with us to address our evolving risk needs. Iridium’s understanding of our objectives, understanding of our industry and their risk-based consultative process was exactly what we needed. Iridium is incredibly responsive and they have become an invaluable member of our risk management team. The benefits to Fraser Surrey Docks in engaging a dynamic firm like Iridium continue to emerge and we would recommend them as a risk management partner to any of our West Coast peers.

—Leonard Cox
Chief Financial Officer,
Fraser Surrey Docks

Iridium’s energy industry knowledge, technical expertise, and meticulous attention to detail gives us the confidence that our exposures are properly managed. The people at Iridium are true risk management and insurance professionals and I would strongly recommend their services to any firm operating in our industry.

—Scott Kirker
Secretary and General Counsel,
Tourmaline Oil Corp.

Through the last two companies I’ve been involved with, I have partnered with Iridium for the last 10+ years. They continue to impress me with their energy industry expertise and unique focus on managing the broad spectrum of enterprise risks that energy companies face. They currently provide Aureus with year-round prompt support and valuable risk advice integral to our fast-paced and geographically spread-out operations. Iridium has been a great advocate for Aureus in the insurance marketplace and has helped us navigate the challenges of our company’s growth, cost-effectively. They also routinely take time to meet and educate members of our team on insurance coverages and industry leading risk management practices. Aureus considers Iridium a valued risk management advisor and have integrated them into our team. We highly recommend them to any company.

—Ron Hozjan, VP Finance & CFO, Aureus Energy Services

Iridium’s unique approach and in depth understanding for our business made for a thorough and seamless insurance placement. We can always rely on their guidance and exceptionally prompt responses. Iridium’s knowledge and strong service focus gives us confidence in knowing the job will get done right!

—Dave Hawkins, CA
Chief Executive Officer,
Groundforce geoDrilling Solutions Inc.

The team at Iridium handled our significant pollution liability claim like the consummate professionals we’ve come to know them as. We felt supported throughout the entire process and knew Iridium always had our back. Whether it be in dealings with insurers, adjusters or third party experts, they advocated for us every step of the way. We are very grateful for their level of involvement and the ultimate settlements along the way.

—Graydon Glans
Chief Financial Officer,
Highwood Oil Company Ltd.

“Enerflex is a complicated global account and I have been extremely impressed with the way that the team at Iridium has been able to dissect and understand our risks to ensure our policies are appropriate for our organization. There are a number of touch points around the globe and the team at Iridium has seamlessly coordinated our program. I am extremely pleased with the risk management focus of Iridium and the results that their unique approach has brought to our company.”

—Jeremy Weatherhead
Treasurer,
Enerflex Ltd.

The team at Iridium is professional, approachable and knowledgeable. Prior to the sale of our business, insurance was managed by an internal risk management corporate group. Iridium was engaged to establish insurance coverage within a short period of time for the standalone business. Iridium was intimately involved in proposing solutions to mitigate risk and brought significant cost savings to our business. Iridium is a true risk partner for our business; providing education and training, expert contract review and risk assessments, along with a strong understanding of our company’s exposures and insurance coverage.

—Wes Morningstar
Chief Executive Officer and Director,
Canlin Energy Corporation.

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