Low oil prices. Cost control pressures. Workforce layoffs. Onerous legislation and regulation. Global political instability. Untested, prototypical technology. Cyber-attacks. These challenges are here to stay and reflect the “new normal” for the energy industry as we head further into 2017 and beyond. So how should energy companies react to the changed business environment in which they find themselves? Are there new, innovative ways of managing risk more effectively while reducing cost at the same time?

Please click here to access our European Energy Conference website where you can download pdf copies of the presentations and review all aspects of this event.

How should the Energy and Natural Resources industry respond?

European institutions and companies are increasingly targets of organised and sophisticated cyber-attacks, and it is estimated that these breaches result in losses of €260b – €340b annually. In response, in July 2016 the European Parliament adopted the NISD which is aimed at promoting cross-border cooperation on cyber-security, and improving risk management practices. EU member states have till May 2018 to implement the Directive into their national law. Please click on the image to download the pdf.

Base Erosion and Profit Shifting (BEPS)- are captive insurers in the Energy and Natural Resources industry exposed?

The OECD estimates that Base Erosion and Profit Shifting (BEPS) - could cost countries $100-$240 billion in lost tax revenue annually. As BEPS scrutiny increases, we believe that there are a key set of internal and external risks facing Natural Resources companies. Please download our recent communication on BEPS here.

The EU's General Data Protection Regulation – are the Natural Resources industries ready?

On April 14, 2016 the European Parliament voted to adopt a new data protection law for Europe, the General Data Protection Regulation (GDPR). The purpose of the regulation is to further harmonise national data protection laws across the EU, strengthen the obligations on those who use personal data, and enhance the rights of individuals. Please download our recent communication on the GDPR here.

On April 11 2017 Willis Towers Watson launched the Energy Market Review in our Lime Street Office.

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View the presentation slide deck here

Read the Energy Market Review 2017 Report

As Chinese and other Asian energy companies expand their interests into other areas of the world at an increasingly accelerated pace during the second half of this decade, what are the key risks and challenges that they will face during this period of expansion and how should they respond to them? At our third Willis Towers Watson Asian Energy Conference, we sought to provide answers to these significant concerns.

Click here to access the conference website where you can watch a summary video, download photos and download pdf copies of the presentations.

How are Latin American power and utilities companies going to manage a changed risk landscape effectively in this challenging global economic environment? That was the key issue discussed at our inaugural Latin American Power Conference held from November 29-30 at the Biltmore Hotel, Miami.

This event featured various industry leaders in risk management and insurance, key underwriter personnel from the Latin American and London markets, and expertise from within Willis Towers Watson across various disciplines.

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In November 2016, over 100 delegates gathered at the Four Seasons Hotel, Toronto, Canada for Willis Towers Watson's inaugural North American Mining Conference. The theme of the conference was "Building Resilience: Risk and Opportunities in the Mining Industry" and the conference explored the overall them of managing mining risk at a time of depressed commodity prices. Subjects discussed included cyber risk, analytics, captive utilization, tailings dam failures, workforce management, the Alberta wildfires and environmental risk.

Please click here to access the conference website, where you can download both the presentations and polling results as well as a summary video and photographs of the event.

In October 2016, 120 delegates gathered at the Four Seasons Hotel, Punta Mita, Mexico for Willis Towers Watson's seventh Latin American Energy Conference. The theme of the conference was "Cheap Oil and the Energy Risk Landscape" and the conference explored the overall them of managing energy risk at a time of depressed commodity prices.

Subjects discussed included cyber risk, analytics, captive utilization, environmental and talent management risk. Energy industry presentations were delivered by representatives from Pemex, Ecopetrol and YPF.

Please click here to access the conference website, where you can download the presentations and view photographs of the event.

On September 9 2016 Willis Towers Watson launched our Mining Risk Review in our Lime Street Office.

Visit our event page below to view all of the presentation videos and download the presentation materials.

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View the presentation slide deck here

Read the Mining Risk Review 2016 Report

Difficulties arising from operating in more technically challenging physical environments is the number one risk on the minds of executives in the natural resources industry, according to our Natural Resources Risk Index released on June 27.

This index was launched in London during two events hosted by the Natural Resources Industry group at the end of June and the beginning of July. Over 30 clients, insurers and Willis Towers Watson personnel gathered in London for a summary presentation and a period of discussion afterwards.

The Index was compiled using responses from C-suite executives across the natural resources industries to rank 50 risks in accordance with their impact and how difficult each one is to manage. It shows that the industry is united on its views of the key risks it faces today and over the next ten years. Certainly geopolitical instability and regulatory change, coupled with digitalisation and new technologies, have created new risks for the industry to understand and mitigate. At the same time, a changing industry landscape provides opportunities for companies willing to embrace a degree of risk.

Read a copy of it here. For a copy in Chinese click here

Creating Value in an Economic Downturn – A Risk Management Opportunity?

Everyone knows that the energy industry remains firmly locked in a major downturn – regardless of the recent slight rally in oil prices. But in these gloomy trading conditions, are there opportunities for energy industry risk managers to add real value to their organisation?

Bill Creedon, Head of Corporate Risk and Broking for Willis Towers Watson in North America, certainly seems to think so. Speaking at Willis Towers Watson's North American Energy Conference in Austin, Texas, last week, Bill suggested that there was indeed an opportunity for risk managers to add more value to their organizations...

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London, United Kingdom: April 2016

An over-supply of capital and falling demand from buyers, caused by cost cutting in the wake of the oil price crash, is heaping pressure on insurers to the extent that they may eventually consider exiting the energy insurance market, or at least scaling back their participation.

Click here to download a copy of the Review.

Download the presentation slides of the launch of this Review in the Willis Towers Watson Building, London on Tuesday April 5.

The Energy Insurance Market "Must Innovate to Survive"

Delegates call for action from insurers as emerging risks dominate the agenda in Bangkok.

Insurers must innovate if they are to survive today's competitive market environment and provide the kind of solutions required by today's energy industry. That was the unequivocal message delivered by delegates at the end of Willis Towers Watson's inaugural Asian energy conference, held from January 20-22 in Bangkok, Thailand.

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London, United Kingdom: December 2015

On December 8 2015 Willis Towers Watson Natural Resources hosted a breakfast Briefing in the Joe Plumeri Auditorium in London to discuss two issues currently of concern to the power industry in the UK – the impact of recent legislation with regard to the industry's environmental legal liabilities and the complications that can arise when adjusting power industry business interruption claims. Speakers were Beverley Parrish M.Sc., B.Sc, ChGeol. and Rick Hartley BA, FCA, FCILA, Managing Director, Richard Hartley Partnership.

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London, United Kingdom: November 2015

On Wednesday November 11, 2015 Willis Towers Watson held an Upstream breakfast briefing on the overall theme of developments in Upstream industry technology in the Joe Plumeri Auditorium in the Willis Towers Watson Building in London.. There distinguished specialists gave presentations on the subjects of cyber risk, 3D printing and drone technology and the ways in which the industry should respond to these developments.

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Sochi, Russia: October 2015

From 7 to 11 October 2015 Eurasian Energy Industry and Risk Management Conference was held in Sochi at Grand Hotel Polyana where worldwide experts discussed development prospects of hydrocarbon exploration and production within the Russian Federation, as well as modern risk management practices employed by professionals of the Russian Energy Complex

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Santiago and Lima: June 2015

In Santiago and Lima, Willis Towers Watson hosted our inaugural Latin American Mining Seminar, where a selection of mining risk managers from the region met to discover if there are other, smarter approaches to risk management besides the traditional option of selecting the most competitively priced insurance proposal.

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Haikou, China: January 2015

At Willis Towers Watson' second Asian Energy conference, to be held once again at the Ritz Carlton Hotel, Sanya, China, we will be examining how modern energy companies deploy their own analytical methodologies to improve their understanding of the risks that they face.  We'll also be debating the softening dynamic in the global Energy insurance markets, and asking how energy companies can best maximise the opportunities that these market conditions present. Pictures of the event can be seen here.

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