07.45-09.00 | Registration sponsored by Galloway, Johnson, Tompkins, Burr & Smith |
08.00-08.30 | Presentation: Insurance Sanctions – The Best Weapon in the Ukraine Arsenal? |
As the Russians invaded Ukraine, sanctions were quickly imposed on a variety of Russian interests. The Wall Street Journal said insurance was fast becoming the greatest weapon in the West’s arsenal. What are the implications of that for the energy insurance market, and how do insurers feel about their private business becoming a weapon of war? |
Presenter: Chris Zavos, Partner, Kennedys |
08.30-08.55 | Fireside Chat: Is Putting a Date on ESG Creating an Unnecessary Headache for Insurers? |
As insurers start to withdraw from covering fossil fuels, coal in particular, this session looks at whether they may be moving too fast. Governments have longer timelines for transition than insurers, so are energy insurers continuing to provide their clients with a service if they pull out of markets too quickly? |
Presenters: Nicola Harris, Head of Energy, UK and Lloyd’s, AXA XL William (Monty) Lynch, U.K Head of Natural Resources, Aon |
08.55-09.00 | Welcome Address |
Presenter: Grant Attwell, Director, Cannon Events |
09.00-09.30 | Keynote Address: What Does the Future Hold? Is the Energy Market Aware of the Risks Ahead? |
Technology is evolving fast as corporations look to find the magic bullet to replace fossil fuels with workable and cost-efficient renewable solutions. Hydrogen is an example of that. The question is, does the insurance market need new standards and wordings to ensure it manages the new risks properly, and does the industry truly understand the new exposures? |
Presenter: Hari Vamadevan, Regional Director, UK and Ireland, DNV, Energy Systems |
09.30-10.15 | Panel Discussion: Political Risk – Can You Rely on the Politicians? |
The past couple of years have highlighted how politics can be overturned overnight. But in more recent times many governments have been planning massive investment in renewables as a way to jump-start their economies in the wake of Covid-19. What are the implications for the energy insurance market of the risk of a change of heart as oil and gas moves back into favour as a quicker solution to the current energy crises? |
Moderator: Franco D’Andrea, Legal Director, Clyde & Co Panellists: Hugh Selka, Underwriter Marine and Special Risks, Tokio Marine Kiln Rupert Beloff, Barrister, Commercial and Elections Law team, 4-5 Grays Inn Square Chambers |
10.15-10.45 | Networking Break sponsored by Rimkus |
10.45-11.30 | Panel Discussion: How Far Has the ESG Pendulum Swung? The European Perspective… |
Earlier this year in the US we discussed whether the pendulum had swung too far towards renewables and whether there would be a reality check. Now we have the Ukraine war changing the dynamic still further, so this session will once again discuss the viability of oil and gas and the mood music around renewable energy. |
Moderator: Gary Walkling, Partner, RPC Law Panellists: Tom Dickson, Chief Executive Officer, New Energy Risk Claire Williams, European Regional Leader, Energy and Power, Marsh Simon Sjøthun, Head of London Office, Rystad Energy |
11.30-12.00 | Presentation: Going green – Weighing up the risks |
The societal shift towards broad acceptance of global warming is driving the renewable agenda at an accelerated pace. Renewable technology is increasingly cheaper and quicker to install, with national targets continually revised as ambition strives to capitalise on this development. While this process should only be celebrated and supported, it raises the inevitable question: at what cost? This presentation will look to summarise the challenges being faced in the race for installation, limitations not technology based, and consider some of the lesser discussed risk areas. |
Presenter: Daniel Sim, Associate Director, Rimkus Consulting |
12.00-12.50 | Panel Discussion: Supply Chain – The Rising Cost of Claims |
Supply chain disruptions have been putting extreme pressure on build projects and repairs alike. In this session we discuss the impact in terms of claims inflation for both oil and gas projects as well as renewable projects, and ask whether there is a risk of under-insurance for clients. This will include a look at the business interruption implications. |
Moderator: Patrick Foss, Partner, Kennedys Panellists: Kit Hollis, Director, INDECS Consulting Limited John Swann, Senior Underwriter – Offshore Energy, CNA Hardy Edward Parker, Divisional Head of Specialty Risks, Tokio Marine Kiln |
12.50-13.50 | Lunch sponsored by DNV |
13.50-14.10 | Presentation: Greening Fossil Fuels – Does the Solution Lie Closer to Home? |
A someone said recently, “fossil fuels are the perfect fuel, if only they didn’t give off pollutants”. Could some of the solution to the current challenges be in the greening of fossil fuels and would the insurance industry support such moves? Would it enable insurers to support fossil fuels and also continue on their ESG journeys? |
Presenter: Michel Krenzer, Global Leader Onshore Energy, Specialty Insurance, SCOR |
14.10-14.30 | Presentation: Where in the World – How Does the Distribution of Wind Energy Work? |
As operators expand the location of wind farms, this session will explore the challenges of how that energy reaches the distribution network, following a series of expensive claims in this area. It also considers the balance between on and offshore facilities and future risks. |
Presenter: Mamoon Alyah, CEng, PE – Managing Director, CEERISK Consulting Limited |
14.30-14.50 | Presentation: All at Sea – Floating Renewables |
As wind renewables increasingly move onto floating platforms, much of the technology remains untested, however marine insurers have been happy to move into this space. Insurers are in business to make a profit, but is this truly possible as the technology evolves, or could it prove a risk too far? |
Presenter: Dan Stevens, Head of Engineering Renewable Energy, Axis Capital |
14.50-15.15 | Networking Break sponsored by Rimkus |
15.40-16.20 | Panel Discussion: Oil & Gas Insurance – Will Business Remain as Usual? |
Oil and gas insurers have come under increasing pressure from activists to stop offering cover for oil and gas development the world over. We look at recent pressure group activity and ask whether the global insurance market can stay as is, or whether it will be forever changed. Will it fracture between East and West as Western insurers walk away from oil and gas projects, picked by up Eastern insurance interests instead? |
Moderator: Jake Hannath, Senior Adjuster, Matthews Daniel Panellists: David Message, Energy Lead Underwriter, IQUW Andrew Herring, Chief Executive Officer Energy and Power, Marsh David Cosserat, Global Head of Energy, Specialty Insurance, SCOR |
16.20-16.40 | Presentation: Will Lenders Continue to Back Renewable Projects? |
Renewable projects require massive amounts of investment, but lenders are increasingly cautious. Too often the challenges of meeting the requirements of those lenders ends up with clients asking for guarantees or waivers from the insurance market. |
Presenter: Felipe Alviar-Baquero, Director, INDECS |
16.40-17.00 | Presentation: Weather Risks – The Power of Mother Nature |
A series of expensive weather losses have ripped through the renewable energy insurance market. This session questions whether those who have rushed into the renewables sector have been correctly assessing the risk and cost of severe weather events on the renewables sector. |
Presenter: Marc Giovannetti, Vice President, Senior Executive General Adjuster, Engle Martin |
17.00-18.00 | Close of Conference and Drinks Reception |
