The agricultural, renewable energy, and bio-economy (ethanol, biodiesel, biomass, agribusiness, solar, wind, etc.) industries have had a lot of crossover and growth in the US over the past decade. Large renewable energy and biochemical consulting firms certainly have experts in biofuels and renewable fuels, and the more common areas like biomaterials, biomass and biomass power, feedstocks, and biotechnologies. In these larger consulting groups, one will also find expertise in other biofuels like algae biofuels, aviation/bio jet fuels, ethanol, cellulosic ethanol, advanced biofuels, biodiesel, renewable diesel, renewable natural gas, renewable and biochemicals, biogas, syngas, biochar, bio coals, biobutanol, pyrolysis oil, producer gas, wood pellets – and insurance. As broad as these segments can be, insurance carriers’ appetites do not necessarily follow or are not as broad, therefore knowledge of specific carriers and their appetites for these segments is imperative. (See Insurance Coverage in Biofuels for a list of the types of coverages).
Insurance is often thought of as a commodity, i.e., all insurance, carriers, and brokers are created equal. That could not be further from the truth. In general, the insured is frequently not properly covered and/or overpaying for their insurance. Insurance brokers who understand the industry play a vital role in educating and knowing which carriers to work with. Furthermore, using a good insurance broker can help in bringing other professionals to the aid of the client, such as:
- Contract Attorneys who can review client contracts (PPA Agreements, Contractor Agreements, Sub & Material Contracts, etc.);
- Claims Attorneys who can ensure proper maintenance of closing out claims;
- Risk Control Staff for:
- Safety Assistance – This can be as involved as the customer desires (training, development, boots on the ground, etc.);
- OSHA Involvement – Helping stay active in the entire OSHA process including being very successful in mitigating or rescinding fines;
- Bonding Professionals who are dedicated to providing bonding solutions for clients;
- Alternative Risk Personnel who are dedicated to finding or building alternative methods for financing losses (Captives, rent-a-captives, group programs, etc.);
- D&O Experts dedicated to Executive Risk coverage; and
- Mergers & Acquisition Professionals who can assist with vetting and due diligence
Lee Enterprises Consulting is the world’s premier bioeconomy consulting group, with over 150 highly qualified experts serving in all these areas. Take a look at our experts and the services we provide. Most of our experts are also available to advise and serve as expert witnesses in bioeconomy litigation matters. We specialize in putting together full-service, interdisciplinary teams with one point of contact for larger projects. Call us at 1+ (501) 833-8511 or email us for more information.