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Builders’ Risk Insurance

Builders’ Risk is a form of property insurance specifically designed to cover property during the course of construction, renovation, and repair. There are additional risks and responsibilities to this type of work that a basic property policy will not cover. Typically, the coverage is purchased by either the property owner or the contractor.

“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.

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.

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

We can always count on Iridium to be available at a moment’s notice. Whether it be to discuss a random insurance related topic, review a contract, or request documentation for board level meetings, they always deliver regardless of timing. Iridium has been great at bringing forward ideas, issues and solutions that have helped Perpetual build a better insurance program. They also introduced us to a new marketing strategy of building direct relationships with the underwriting community. Not only did it pay dividends at the time Iridium first became our broker, but it has continued to do so in subsequent renewals. Their professionalism, ability to speak on a technical level and refreshing style are all big reasons why our firms continue to do business.

—Jeffrey R. Green
Vice President,
Perpetual Energy Inc.

The Iridium approach to insurance and risk management is very inclusive, encouraging representation from across the business to fully understand the business risks and requirements. The Iridium team brings extensive oil and gas experience, together with useful benchmarking, market research and relationships with insurers that results in intelligent and cost effective risk solutions. Iridium are an important part of our business and we share similar corporate values as Calgary based, owner managed teams with significant pride of ownership and determination to succeed.

—David French
CFO and VP Finance,
Burgess Creek Exploration Inc.

I have to say that I am one happy customer. Iridium and NMB have delivered significant value to WesternZagros with the insurance policies that we have had in the past and the support with the claim, and now with a very competitive quote for insurance going forward. I pass on the gratitude of our entire executive team for this support, as I have to say that without your assistance I do not believe we would have achieved the success we have had recently at Sarqala.

—Greg Stevenson
Chief Financial Officer,
WesternZagros Resources Ltd.

We had previously dealt with larger brokers exclusively, but in the past few years we were unhappy with the level of service we were receiving. Iridium routinely takes the time to meet with us to carefully review and address our evolving exposures. Iridium’s employees are very experienced and are well versed at explaining coverage nuances at an operational, executive and board level, which gives us confidence that we have appropriate insurance protection. Their knowledge of the marketplace is impressive, ensuring that we receive the most competitive terms available. With Iridium we believe that we receive excellent value and great service.

—Max Lof, MBA, CFA
Chief Financial Officer,
Surge Energy Inc.

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