Issue | 

December 18, 2015

AEGIS property consortium now offers up to $350 million capacity

We are pleased to announce that SCOR has just joined NEIL (Nuclear Electric Insurance Limited) and Berkshire Hathaway Specialty Insurance as the newest member of the AEGIS property consortium, which increases our total property capacity to $350 million for certain risks. Each of our consortium partners can add $50 million to our existing $200 million capacity, bringing the total to $350 million.

SCOR is a leading global reinsurer with $6.6 billion in surplus and an A.M. Best rating of A (Excellent) and an S&P rating of AA-. AEGIS has a long-standing reinsurance relationship with SCOR and we are grateful for their multi-year commitment to the AEGIS property consortium.

Many AEGIS members have expressed interest in reliable, sustainable, long-term property programs with higher limits and the consortium is helping meet this need. To date, we have bound property consortium policies for 34 member companies and we expect that number to increase as existing property programs expire and member companies undertake new projects. For more information, please contact Gary Ladman by e-mail or by phone at 201.508.2802. 

Cyber capacity increased through new alliance with NEIL

We’re also pleased to announce a new alliance with NEIL (Nuclear Electric Insurance Limited) that will provide additional cyber capacity for NEIL members who purchase the AEGIS CyberResilience policy. The NEIL coverage follows the AEGIS form and provides up to $25 million in additional capacity, subject to a NEIL membership aggregate limit of $100 million. The underwriting process will be coordinated without any additional assessment or evaluation beyond what we already do for the AEGIS CyberResilience policy. For more information, please contact George Keefe by e-mail or by phone at 201.508.2797 or Dawn Simmons by e-mail or by phone at 201.508.2629.

Regional member and broker meeting – San Francisco – January 5

Please register now for our next regional member and broker meeting which will be held on Tuesday, January 5, at the Westin San Francisco Airport Hotel.

Our regional member and broker meetings are one of the best ways we stay in touch with you, and they help us make sure you’re getting exactly what you need from AEGIS. The regional meetings are also an ideal way to further involve your risk management and finance colleagues with your company’s insurance program, discuss current energy and insurance issues, and learn more about your mutual. At these meetings, small groups of members and brokers meet with AEGIS senior management to discuss these topics as well as any new initiatives at AEGIS. We’ll also answer any questions you may have. Most attendees find that these small meetings are conducive to comparing notes and networking with other risk managers and brokers. Please come prepared to discuss risk management issues, general insurance market conditions, cyber risk, ERM and other current topics.

Each meeting is a one-day event and you should be able to drive or fly between home and the meeting on the same day. However, if you need to stay overnight, AEGIS will reimburse one person from each member company for one night’s stay in the meeting hotel. We look forward to seeing you in San Francisco!

ERM survey of member companies posted to website

Many of you participated in the ERM survey of member companies that was conducted earlier this year by the St. John’s University of School of Risk Management, Insurance and Actuarial Science. The survey was suggested by the ERM Task Force as a way to help us benchmark member company ERM programs, identify member needs and identify ways AEGIS can help meet those needs.

The topline results were reported at the Policyholders’ Conference in Nashville, but now the complete summary and charts are posted to the password-protected section of the website. Go to Resources > Publications and log in to see the results. If you have any questions or comments about the survey, please contact George Keefe by e-mail or by phone at 201.508.2797.

PHC 2016 in Boston – save the date

As you and your family make your plans for 2016, please save the date for the 2016 AEGIS Policyholders’ Conference, which will be held Monday, July 25 to Thursday, July 28, 2016 at The Westin Boston Waterfront, located in the revitalized waterfront district overlooking Boston Harbor. Our annual conference is an opportunity for us to share information about AEGIS and the insurance and energy industries – and for you to share your needs, concerns and suggestions with us. We look forward to seeing you, your family and guests in Boston!

AEGIS Claims Roundtables 2016 schedule announced

Please save the dates for the AEGIS Claims Roundtables that will be held in 2016. Demystifying the Workers’ Compensation Claim will be held on March 10, and Settlement and Negotiation Techniques will be held on June 9. As always, Continuing Legal Education (CLE) credits will be offered, and you have the option of attending the Roundtables in our East Rutherford, NJ office, or by webinar. For more information about the AEGIS Claims Roundtables program, please contact Jeff Schupack, Senior Vice President – Claims, by e-mail or by phone at 201.508.2658

Monthly webinar – Using Drones for Power Plant Inspections and Loss Control – January 6

Please register now for the next in the series of monthly webinars conducted by AEGIS Loss Control – Using Drones for Power Plant Inspections and Loss Control – which will be held on Wednesday, January 6, from 1:00 pm to 2:00 pm, Eastern Standard Time.

The use of drones for assessing power plant equipment is relatively new and will become more common as the technology develops. Understanding the requirements for their use, establishing the roles they will provide as maintenance aids, and developing procedures for their operation will be some of the challenges facing utilities. Utilities will have to decide what types of unmanned aircraft will be most useful for these assessments, and whether they should purchase their own drones, develop the expertise for flying them, or use contractors to perform these duties.

The Using Drones for Power Plant Inspections and Loss Control webinar will discuss the benefits of drones to conduct and improve the inspection of critical infrastructure, reducing risk to employees, the impact to plant schedules, and overall costs.

The discussion will be based on AES Corporation’s Drones & Robotics Program, a strategic program within their Emerging Technologies organization that focuses on the development of a Center of Excellence for Unmanned Systems within their multi-national organization.

The webinar will be presented by Zac Penix, Manager – Emerging Technologies, Technology and Services at AES Corporation. Zac is an Oklahoma native with 14 years of experience in technology and innovation, with previous roles at Fortune 50 companies and technology start-ups. He is a patented inventor, four-time recipient of the International CES Innovation award, and an active voice for the Edison Electric Institute in Washington, D.C.

On the morning of the webinar, you will receive a reminder and instructions for participating. If you have any questions in the meantime, please contact Michelle Battagliese by e-mail or by phone at 201.508.2855.

If you have any questions about the monthly AEGIS Loss Control webinars, please contact Scot Macomber, Vice President – Loss Control Utility Operations, by e-mail or by phone at 201.508.2739.

AEGIS Loss Control webinar 2016 schedule announced

The monthly webinars conducted by AEGIS Loss Control were very successful in 2015. On average, 131 participants, representing 89 member companies, participated each month, and the evaluation survey results conducted after each session were excellent. Building on this success, we’re pleased to announce the webinar schedule for 2016:

  • Using Drones for Power Plant Inspections and Loss Control – January 6

  • Theft of Utility Services – How to Protect Your Most Valuable Commodity – February 3

  • Transformer Lifecycle and Risk Management – March 2

  • Model Practices: The Utility Physical Security Plan – April 6

  • Creating Win-Win Situations: Measuring the Effectiveness of Utility Public Safety Awareness – May 4

  • Transformer Protection Program and Emergency Response – June 1

  • The Benefits of a Smart Maintenance and Diagnostic Center – July 6

  • The Security of the Water Supply – August 3

  • Current Trends with Generator Failures – September 7

  • Substation Security – “Inside and Out” – October 5

  • Less Flammable Fluids for Energized Oil Filled Equipment – November 2

  • Wildfires – Mitigation Strategies for Electric Utilities – December 7

If you have any questions about the monthly AEGIS Loss Control webinars, please contact Scot Macomber, Vice President – Loss Control Utility Operations, by e-mail or by phone at 201.508.2739.