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At Closure, we're not just another player in the field—we're transforming and accelerating ARO and wellsite abandonment activities helping clients to more precisely assess risk, contain costs and optimize their operations. Current wellsite liability pre-acquisition or pre-disposition assessments, while critical, often face several shortcomings: 1. Incomplete Data Collection: Many assessments rely on historical data that may be outdated or incomplete, leading to an underestimation of environmental liabilities. 2. Limited Scope: Assessments may focus primarily on regulatory compliance and obvious environmental risks, overlooking subtler issues like future regulatory changes, long-term contamination effects, or emerging contaminants. 3. Underestimating Decommissioning Costs: The financial implications of decommissioning and site restoration are often underestimated. Proper estimation requires detailed technical evaluations and understanding of site-specific conditions. 4. Time and Resource Constraints: The pressure to complete due diligence quickly can lead to shortcuts, compromising the depth and accuracy of the assessment. Improving these areas requires a comprehensive, integrated approach that leverages advanced technologies and meticulous risk modeling. Here’s how Closure can help: 1. Expert ARO Management: Our team offers specialized and strategic advisory services to guide you through ARO complexities, ensuring compliance and risk mitigation. 2. Digital Solution: Our advanced digital tools and leading-edge SaaS quickly generate comprehensive risk profiles on a well-by-well basis using real-time data and analytics for precise assessments. Gone are the days of disparate data sources and mountains of Excel spreadsheets. Our SaaS platform generates data analysis and insights for a single wellsite or your entire inventory in mere seconds. With Closure, you can confidently manage liabilities, accurately assess your Asset Retirement Obligations (ARO), and protect your investments. Ready to transform your approach? Contact us to learn more about our suite of advisory services or to book a demo of our digital platform that will accelerate your wellsite liability management, making it easier to assess risk and drive out costs. www.closurelm.com #Finance #EnergyInvestments #DueDiligence #AROManagement #LiabilityAssessment #DigitalSolutions #ClosureAdvisory

Building career pathways, growth opportunities and development are fundamental to our Energy Transition strategy...and here it is in action!

For the second half of 2024, we are shifting to a market that is in many clients’ favor, but with a lively start to what was already expected to be an above-average windstorm season, all eyes will be on how insurers react if there is a major loss. Read the full update: https://okt.to/RlyZXN #Energy #Downstream #NaturalResources

Maximizing Solar Investment Returns through Insurance & Risk Management The renewable energy industry is witnessing a significant advancement with the renewal of a strategic reinsurance agreement between Hanersun, a pioneering Chinese solar firm, and Munich Re, a leader in the global reinsurance market. This partnership, set to continue throughout 2024, underlines Hanersun’s robust product lineup, which now includes a 15-year quality guarantee and a 30-year power warranty for its solar modules. ******* Why This Matters to Industry Leaders ******* For executives in the renewable energy and insurance sectors: (1) Credibility and Confidence: Munich Re's backing dramatically boosts the trust in Hanersun’s warranties, which is critical for investor and consumer confidence. (2) Risk Management: Demonstrates effective strategies for mitigating technical risks associated with solar modules, serving as a benchmark for the industry. ******* Key Takeaways in Risk Management and Insurance ******* The collaboration is key for those focused on long-term viability and risk strategies in renewable energies: (1) Risk Transfer: Highlights the importance of reinsurance in managing liabilities and stabilizing financial outlooks for solar projects. (2) Investment Appeal: Such reinsurance agreements enhance the attractiveness of solar investments by mitigating inherent risks. (3) Industry Model: Sets a precedent for global collaboration in expanding renewable technologies. Solar energy companies aiming to fortify their renewable energy strategies should consider leveraging similar reinsurance partnerships to enhance product reliability and market stability. Exploring opportunities in strategic risk management can lead to sustained growth and innovation. Here is the link: insurancebusinessmag[com]/us/news/reinsurance/chinese-solar-firm-renews-reinsurance-services-with-munich-re-485687.aspx (replace '[com]' with '.com' in your browser) #RiskManagement #Insurance #EnterpriseRiskManagement #RenewableEnergy #SolarPower #Sustainability #Innovation

Despite a track record of concerning failure events in the global Battery Energy Storage Systems (#BESS) market, underwriters remain optimistic about the sector's potential, provided key risks are managed. This is the outlook of GCube's latest market insights report, titled “Batteries Not Excluded: Getting the insurance market on board with BESS”, published today. The report aims to give asset owners and developers a transparent insight into the current state and future direction of BESS #underwriting, as well as the opportunities and challenges ahead. Leveraging 12 years of public data and insights from our global underwriting teams, “Batteries Not Excluded” unveils key failure event findings, including: • More than 50% of BESS failures occur within the initial two years of operation • 5-50 MWh BESS account for over half of total failure events globally • Solar-plus-storage projects contribute to 48% of failures Despite the ongoing challenges, there is optimism for the sector's growth. Underwriters increasingly recognise BESS's significance in the #EnergyTransition, and, with this, we anticipate BESS assets to comprise up to 30% of our underwritten #renewables portfolio by 2024. Fraser McLachlan, CEO, GCube, said: “GCube is a pioneer in the BESS field and has learnt the hard way, having handled some of the largest losses in the market to date. By consistently providing transparent information to insureds and brokers regarding underwriters' perspectives, we aim to foster sustainable, safe, and reliable growth in the sector." To read more, visit: https://lnkd.in/eEWQ9EbA “Batteries Not Excluded: Getting the insurance market on board with BESS” is available exclusively to GCube’s Insured clients and Brokers. To request a copy, please visit GCube’s website or email info@gcube-insurance.com #BESS #storage #insurance

Asset insurance in the oil and gas industry is vital because it safeguards valuable and complex assets, such as drilling rigs and refineries, providing financial protection against potential losses from equipment failures, natural disasters, and environmental incidents. One of the ways to ensure you have a plan to "bounce back" from unexpected events is to gain expertise in the Asset Insurance area. The exciting news is that Causal Capital is launching a LIVE virtual #Certified #Asset #Insurance #Specialist #Masterclass for the oil and gas industry, which is just around the corner from January 15-18, 2024. Feel free to reach out to me for more details at mladenka@causalcapital.org #energy #oilandgasindustry #assetinsurance #certifiedprofessionals #learninganddevelopment #causalcapital #professionalgrowth

One of trusted clients had great feedback about our team after their recent renewal. ✨ Is your business looking for a trusted energy broker? Why not get in touch today. #trustedenergybroker #happyclient #renewalfeedback #energybroker #customerfeedback #businessrenewal #energyconsultant #renewalreview #clienttestimonial #renewalsuccess. 

I attended an insightful webinar recently which discussed the current landscape of MGA’s in 2024 and their success and performance in the current market. It’s encouraging to see MGA’s continuing to show impressive levels of growth, highlighting a sense of optimism within the industry. The current softening market conditions suggest numerous opportunities for continuing to developing niche products. Success will largely depend on how agile and flexible MGAs are in adapting. The most successful MGA’s on the market right now have a few things in common: 💠 They are in touch with the trends within their specialty areas. 💠 Prioritizing customer centricity, with quick response time being crucial. 💠 Agile & adaptive from a both a customer and regulatory standpoint. 💠 They are actively garnering as much data as possible to leverage their position in streamlining operations/future success. 💠 Investing in the talent of the future In the US, I’m hiring for Senior Underwriters, Producers & Account Executives across the Energy & Construction market. If you’d be open to a discussion about the opportunities out there right now, please do drop me a DM or reach out on heather.yardley@idexconsulting.com 📩

Energy Insurance London is an opportunity for key stakeholders in the insurance market to come together to share ideas and solve problems. Marsh sponsor this event as we recognise its importance. This is both the most exciting and the most challenging time for the energy sector and insurance needs to be there to support the transition. Only by sharing ideas, communicating, and listening to our clients will we achieve this. I'm hosting a BESS roundtable at the conference to do just that - looking forward to facilitating the discussion! #EnergyTransition #Insurance #EnergyInsuranceLondon #BESS #RiskManagement

🚨 Breaking news: Our New Energy Risk team, along with leading insurer Westfield Specialty (International), just announced the launch of a new Lloyd’s lineslip focused on providing tech performance insurance and other innovative insurance products to the energy transition space. 📣 Here's what Lloyd's Chief Underwriting Officer Rachel Turk had to say about it: "Insurance has a vital role to play in creating the environment in which new lower carbon technologies can reach scale and commercial viability and we are very supportive of thoughtful and disciplined underwriting that supports the goals of the global energy transition. We are delighted to see the allocation of risk capital to businesses focusing on the transition to renewable energy..." Read the full release: https://lnkd.in/g_JDC9Fw #insurance #climatechange #greenenergy #energytransition #specialty #renewables #tech