CPK Insurance Services’ Energy & Power Risk Management Program
The Energy & Power industry is exposed to new risks as technology advances, and the growing threat of climate change intensifies. The Energy & Power industry is under more pressure than ever before as sustainability efforts, consumer trends, and regulations continue to evolve. These challenges pose new risks across every sub-sector of the Energy & Power industry. To succeed, organizations must adapt and address these new challenges through more effective partnerships.
Backed by our extensive network of carrier partners and expert risk advisors, we work closely with organizations to develop risk mitigation strategies to help you achieve your business's full potential. While ensuring every aspect of your business is future-proof and financially protected to seize new opportunities.
Whether you're in the business of producing, distributing, and selling electricity or other forms of energy such as; coal, petroleum, natural gas, nuclear power, hydropower, wind power, solar power, and biofuel, we help build new capabilities for your risk management program. Our Energy and Power Risk Management Program offers solutions for all types of energy and power businesses, including:
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Upstream
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Midstream
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Downstream
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Power Generation and Utilities
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Renewables
Risk management strategies for the Energy & Power industry
Our risk management strategies help Energy & Power companies drive continuous innovation, endure future challenges, and achieve ambitious growth objectives. We work alongside our clients to help extend your current insurance program's capabilities, optimize your risk spending, close coverage gaps, manage exposures, and find new growth opportunities. Our Energy & Power risk management program offers comprehensive insurance management services to help your organization carry out its mission and mitigate the risk exposures your business experiences. Some of the critical challenges the Energy & Power industry must address include the following:
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Cyberattacks threaten the Energy & Power industry; new technology continues to disrupt the industry, and more systems and processes become digitally reliant. There is an increased risk of disruption or shutdown of certain operations, such as electricity generation, transmission, or distribution systems.
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Environmental regulation and sustainability efforts pressure the energy and power industry to find cleaner and more sustainable energy sources to offset pollution. Unfortunately, the discovery of gradually developing pollution can be complex and often excluded from liability policies. It's vital for energy & power companies to partner with insurers who understand your needs and offer specialized coverages for gradual pollution events.
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Organizations risk property damage due to disasters such as floods, wind, fires, hurricanes, tornadoes, and other catastrophic weather events. Coverage gaps and exclusions can put Energy and Power businesses in serious financial distress. It's important to know what is excluded while also having comprehensive coverages to help safeguard your property from loss.
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Sudden accidental events such as; leaks, spills, and explosions can cause severe damage and pollution. Ensuring you are covered for sudden and unexpected pollution incidents is vital for energy and power companies.
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Employee injuries are common due to the nature of energy & power plants. It’s essential to protect your business and employees from costly medical bills and lost wages by having proper coverages in place.
Our Innovative Solutions and Capabilities
Our Insurance Services are designed to help protect and grow with our clients – we build lifelong partnerships. When partnering with us, you gain access to an extensive network of dedicated risk advisors and premium insurance carrier partners who are here to analyze your organization's risks and build strategic risk solutions around your insurance needs. With solutions tailored to assist clients in the Energy & Power industry, we achieve real results that free you to focus on what matters most. As your company changes, so do your risks. We structure our operations to ensure proper risk management aligns with your business's growth. CPK Insurance Services helps connect you with comprehensive insurance solutions to make your organization more stable and resilient, including:
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Rigs & Equipment
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Contractors Equipment
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Oil & Gas Lease Property
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Control of Well Insurance
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Pollution Liability