PHILADELPHIA--(BUSINESS WIRE)--ACE Group today announced the release of a new advisory, “Energy Exploration and Production: Transportation Risk,” offered through ESIS, Inc., a risk management services company and member of ACE Group. The advisory examines the transportation risk trends emerging in the upstream oil and gas exploration and production business, and explores best practices for producers and oilfield service providers to protect their employees, stakeholders and members of the communities in which they work.
“Technology advances have contributed to a boom in oil exploration and a growing domestic energy industry, resulting in increasingly complex risk management challenges in this sector,” said Stephen Craig, Vice President, ESIS Health, Safety and Environmental. “Through a robust and proactive risk management strategy that integrates health, safety and environmental components, risk reduction is possible.”
The dramatic growth of onshore energy exploration has substantially increased the transportation risks associated with the energy sector. More materials are shipped through urban areas previously untouched by the energy business or through rural roads not designed for heavy-duty traffic. Added Mr. Craig: “Operators are exposed to any number of risks, including third-party liability and environmental liability. Each operator must have a systemic approach to fleet risk management and loss control.”
A comprehensive health, safety and environmental risk management plan includes a gap analysis and regulatory review, safety training for even the most experienced drivers, driver vetting to screen for possible warning signs and a regular reevaluation of safety processes.
Added Mr. Craig, “The domestic energy industry is experiencing an exciting and prosperous moment as they work to understand their risks to ensure the safety of their stakeholders.”
The new ESIS Advisory was co-authored by Jeff Melo, Senior HSE Consultant, ESIS Health, Safety and Environmental and Mike Billingsley, Senior HSE Consultant, ESIS Health, Safety and Environmental. The advisory is part of a series of papers that ACE produces which, are designed to provide useful information on current industry topics faced by risk managers.
To access the report, please click here. The material presented in this report is not intended to provide legal or other expert advice. It is presented as informational only. Readers should consult legal counsel or other technical experts, as applicable, with any specific questions they may have. Insurance is provided by insurance companies within ACE Group. All products may not be available in all jurisdictions. The product information above is a summary only. The insurance policy actually issued contains the terms and limits of the contract. For more information about ESIS, Inc., and its range of products and services, please visit our website.
ESIS®, Inc. (ESIS) is part of ACE Group, providing claim and risk management services to a wide variety of commercial clients. Insurance is provided by insurers within ACE Group. The product information contained herein is a summary only. ESIS Health, Safety, and Environmental Services (ESIS HSE) may be sold directly to ESIS’ clients or as part of insurance underwriting. Risk control activities conducted on behalf of the insurer are not intended as a direct benefit or service to ACE insureds. Time and expense rates apply. For more information about ESIS, please visit www.esis.com.
ACE Group is one of the world’s largest multiline property and casualty insurers. With operations in 54 countries, ACE provides commercial and personal property and casualty insurance, personal accident supplemental health insurance, reinsurance, and life insurance to a diverse group of clients. ACE Limited, the parent company of ACE Group, is listed on the New York Stock Exchange (NYSE: ACE) and is a component of the S&P 500 index. Additional information can be found at: www.acegroup.com.