There is nothing simple about energy industry risks. The very nature of this sector presents environmental and public safety threats that can have immediate, invasive and long-term effects. Overlapping responsibilities further complicate risk assessment and claims management. Beyond petrochemical and other traditional energy sources, alternative energy programs present their own unique risk factors. Loss exposure runs the gamut from unpredictable weather and production hazards to equipment malfunction, business interruption and environmental damage.
The critical need for exceptional claims investigation and management
In the petrochemical industry, transmission alone presents considerable risks. Skilled investigators must address issues of age, quality and reliability of transmission pipelines. Corrosion and seam welds are the most vulnerable and likely sources capable of precipitating a leak, rupture or explosion. Design, installation, maintenance and consistent quality inspections all impact third-party liability. The same issues require thorough investigation of fire, explosion, blowout and fuel spills.
The responsibility for wind projects spreads across design, construction, installation and testing of wind turbines. Code compliance and professional inspections also are key investigative points. While lightning is the most common source of damage, resulting fires demand close scrutiny of the installation and maintenance of the lightning protection system. As third parties often are responsible for the many tasks associated with wind turbines, the potential for subrogation recovery is of key importance.
Overlapping responsibilities and third-party liability are also issues in solar energy generation. As private generating systems are connected to public utility grids, malfunctions can create islanding and other conditions that produce unique hazards and exposure to significant losses.
Confidence in your claims management team
The magnitude and diversity of energy claims demand highly-technical expertise to successfully manage and resolve insurance claims. NARS delivers incomparable in-house and affiliate vendor expertise, and a team of dedicated field investigators that allows our immediate response in almost every jurisdiction in the United States. In our role as third party claims administrators, we have close working relationships with business producers and underwriters, as well as extensive experience with oil, gas and electric claims. The claims team develops a comprehensive action plan to reduce risk, contain costs, effectively manage litigation issues and proactively pursue potential recovery opportunities.
We view subrogation as a critical function that deserves separate focus. Our subrogation unit is wholly devoted to recovery and consists of qualified professionals experienced in subrogation handling to maximize recovery returns. Careful attention to recovery and compliance delivers the best possible cost and claim results for NARS’ clients.
Legal and Regulatory Issues
We are well-informed and stay current about industry codes and standards, new legislation, legal and regulatory issues pertaining to traditional and alternative energy production and distribution. We hold regular briefings on changes in laws and new legal theories, so we are well prepared to actively move claims towards disposition.