SDV's Power & Energy Practice supports the continued success of our clients by providing solutions to the significant and ever-evolving risks encountered in the energy industry. SDV offers a broad range of risk management consulting and litigation services, from the design of corporate insurance coverage and risk management programs to the development of strategy and oversight of the claims handling process. Our attorneys work with Risk Managers and in-house counsel to develop a comprehensive understanding of our client’s operations and deliver tailored risk management strategies and solutions. We have broad experience providing advisory services on placements, renewals and claims involving all lines of coverage relevant to the energy industry, including:
- Commercial General Liability (CGL)
- First Party Property
- Business Interruption & Contingent Business Interruption
- Service Interruption
- Directors & Officers
- Cyber Liability
- Punitive Damages
- Credit Risk Coverage
Environmental Risks in the Energy Sector
Environmental risks remain a strong concern in the energy industry. Inherent in the production and distribution of energy is the capture and transport of natural resources, which can often lead to significant environmental exposures. Over the past decade we have witnessed environmental events such as the Deepwater Horizon oil spill and widespread spills along distribution lines such as the Dakota Access Pipeline. The current administration’s policy of deregulation further increases the likelihood that similar events continue to occur over the next decade.
An emerging area of environmental risk can be found in recent cases arising out of hydraulic fracturing and the disposal of fracking fluids used in oil and natural gas production. A recent increase in fracking related claims have left many energy industry stakeholders searching for coverage solutions to such potential exposures. SDV’s Power & Energy and Environmental Practices collaborate to assist organizations navigate this increasingly complex landscape by determining appropriate risk management strategies to address these exposures, identifying environmental insurance solutions, and, where necessary, providing claims management expertise. Our experience in litigating environmental claims gives us the foresight to anticipate potential risks and provide advice on procuring, and maintaining, an insurance program that includes the proper scope and limits of coverage needed to avoid uninsured environmental exposures as a result of your operations.
Cyber Risks in the Energy Sector
Cyber risks also present a unique concern in the energy industry, as an attack on energy infrastructure has the potential to not only impact electronically stored information but can also cross-over and have an even more devastating impact on the physical world. Increasing interconnectivity and digitization, including smart grids, smart devices and the growing internet of things, make the energy industry vulnerable to cyber-attacks aimed at disrupting operations. Although digitization increases operational efficiency in the industry, growing interconnection also increases the complexity of analyzing, identifying and mitigating cyber threats. SDV’s Power & Energy and Cyber Risk Practices work together to provide a full range of support for energy industry stakeholders. We are uniquely positioned to assist in identifying and mitigating potential cyber exposures and provide guidance on insurance coverage tailored to your firm’s operational needs.
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