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Summer 2022 Marketplace Insights

As part of our commitment to always keep our clients well-informed, we have put together our Summer 2022 Marketplace Insights, entitled: Fractured, Lumpy, and In Transition.

These specialized observations and perspectives of the current market and industry trends reflect on what the first half of 2022 has brought us, and what we forecast coming down the pipeline for the rest of the year and into early 2023.

If you have questions specific to your risk management needs, or would like additional information pertaining to this publication, please reach out to your Iridium Risk advisor.

Click here to view and download the new insights: Summer 2022 Marketplace Insights

We engaged Iridium as Crescent Point’s risk management and insurance partner because they encouraged us to take a big-picture view on risk. Their collaborative and analytical approach enabled us to gain a better handle of our exposures and allowed us to put rigour around our many risk-improvement initiatives. Iridium impresses our team with their ability to develop intelligent risk solutions and they have more than delivered on their promise to be our strongest claims advocate. Without question, I would recommend Iridium as a risk management partner to anyone.

—Steve Downing
Manager. Risk and Treasury,
Crescent Point Energy Corp.

The Iridium team is very enthusiastic, knowledgeable and professional, and consistently provides timely and relevant advice regarding insurance and risk management issues that are of importance to Propak. Iridium generated underwriter interest in our account through a strategic marketing exercise that resulted in policy coverage improvements alongside a reduction in premium. Iridium analyzed our insurance program and policies, identifying gaps in coverage and wording improvements and proposing and placing new policies, ultimately optimizing our insurance program. Propak is pleased to be working with such a talented and committed team at Iridium. I wish we had made the change years ago!

—Barry C. Taylor, CA
VP Finance and Administration,
Propak Systems 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.

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.

We selected Iridium as our insurance partner as they provided a unique business and risk management focus that was aligned with our vision. Their team performed a comprehensive assessment of our insurance requirements utilizing a risk-assessment approach. Not only were we impressed with their initial assessment, but their ongoing service level, engagement and commitment has demonstrated to us that they are a valuable business partner. I would strongly recommend Iridium as a risk management partner.

—Stuart W. Jaggard
Chief Financial Officer,
Painted Pony Energy Ltd.

We were impressed with the depth of research and analysis Iridium preformed in determining our operational exposures and regulatory insurance requirements. Iridium developed and executed an intelligent marketing strategy which resulted in a competitively priced insurance program that reflected our exposure needs. We now consider them to be our partner in risk management.

—Bruce Sherley
P.Eng, President,
Dundee Oil and Gas Ltd.

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

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