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Northern Oilfield Services-B Hoiness

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by

Ryan Bramlette

on 28 April 2015

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Transcript of Northern Oilfield Services-B Hoiness

Risk Management Overview
Identify
-Risk Assessments
-Coverage Audits
-Contract Review
-Policies & Procedures

Design
Implement
Once the Plan has been designed and accepted, the aspects of the plan are implemented

A Service Calendar of Events for the following 12 months is prepared and will serve as the focal point for the implementation process.


It will outline what will be done, when they will do it and who will be involved
Continue
Is the Program Effective?
Are we making a Impact?
What Emerging Risks do we need to plan for?
Our Goal is to Identify & Prioritize Risks that have Financial Impact on your Business
Prevent
Mitigate
Transfer
Finance
Assume
Risk
Tolerance
Business
Strategies
Business Risk
Strategic Risk
Hazard Risk
A Properly Designed Risk Management Plan Balances the Total Cost of the Action with
Owners Tolerance for Risk and Overall
Business Strategies
We hold ourselves accountable with Service
Agreements and Stewardship Reports.
Employee Turnover
Equipment
Perpetuation
Contract Review
Compliance
Down Time
Employee Turnover
Down Time
Perpetuation
Compliance
Equipment
Risk Advisor Team
Brady Hoiness, AINS/ VP Natural Resource Division
Devan Hoiness/ Natural Resource Division
Haleigh Crnkovich/ Account Specialist
Amy Simpson/ Account Specialist
Brendan Riley/ Loss Control
Mindy Carver, JD, CPA, CPCU, CIC/ General Counsel
Jeff Wallace/ Claims Director
Ryan Elliott/ Surety
Teri Palmer/Wellness Coordiantor
Mike Day/Employee Retention-Perpetuation
Employee Retention/Skilled Employees

The Construction Industry anticipates a shortage of 2,000,000
skilled
workers by 2017

Lost Employee National Average is $8,200
per Employee
Coverage Gaps
- Fiduciary Liability

- Additional Insured
only
Including "Ongoing Operations"


Risk Transfer
Contractual Risk Transfer
Certificate Tracking
ISNet/PEC Compliance
DOT Compliance
OSHA Compliance
Equipment Leases
Property Leases
Risk Reduction Plan
Marketplace Advocate
(*Not All Businesses qualify based on Cash Flow)
Traditional Insurance Solution
Insurance Policies
The Traditional Insurance Approach
Ignores those Uninsurable Risks.
PayneWest
Risk Solutions
PayneWest Model tackles head on to directly improve your Uninsurable Risks
Risk Management
Value-Added
Services
Insurance Policies
Claims Advocacy
Loss Control
Certificate Tracking
Employee Turnover/Retention
Reputation Management
Perpetuation
Contract Review
Loss of Key Contract
Customer Service

What Does it Cost Northern Oilfield Services?
Implementation of CSR24
Northern Oilfield internal link to add certificate holders and print certificates internally.
Available via App so proof of insurance can be accessed at jobsite or location
Access to PayneWest Service Team of 8 Natural Resource Individuals
NO COVERAGE
Could Cost Northern Large $$$
Loss of "Key" Customer
"Out of Pocket"
- Borrowed Equipment Exclusion
-Professional Liability Exclusion for Trucking, Roustabout & Leasing
-Missing Stop Gap
Yearly Cost Savings in Marketing Insurance
$15,000
Traditional Insurance Cost Savings
$11,000
$13,000
-Auto Pollution Exclusion
$300,000
$12,000
Total Potential Cost Savings
$1,621,200
PayneWest Cost Savings
Fiduciary Liability
Additional Insured
"Completed Operations"
$1,200,000
Loss of Reputation
$100,000
Cargo Pollution
$9,200
Market Changes
HIIG Energy
Full transcript