Boots & Coots International Well Control, Inc. (Houston), an energy emergency response company, has jointed Global Special Risks, Inc., an energy industry insurance specialist, to launch a risk management program that combines elements of both specialties.
The companies' Hazsure risk management program integrates environmental damage and casualty coverage with such safety inspections and site cleanup and restoration after an environmental incident. It includes coverage for first-party pollution, including cleanup costs, and expedited claims resolution to minimize cash flow costs to customers.
Hazsure is a follow-on to the Wellsure well blowout insurance and response program launched by Boots & Coots, Global Special Risks, and Underwriters at Lloyds of London and London Companies in February, 1998. It followed with an expanded Wellsure Plus insurance/response program (with Zurich-US taking the place of Lloyds) in June 1998.
The new alliance, says Boots & Coots CEO Larry Ramming, represents "our continued commitment to and investment in offering a full-range of global emergency response and preventative services to our clients." He notes that all policies will be "individually client tailored" and encompass risk management services (hazard identification and assessment, contingency planning, and safety/environmental training), emergency response, site cleanup, remediation and restoration services.
Hazsure is targeted at petrochemical plants, refineries, pipeline operators, and oil and petroleum products terminal operators, as well as manufacturing operations with hazardous materials risk exposure. The risk management services are provided by Boots & Coots Special Services, formerly known as Code 3. Over the past few years, the parent corporation has expanded its services to emphasize more integrated safety solutions.
Halliburton Energy Services, a business unit of Halliburton Co., recently invested $5 million in Boots & Coots Series A Preferred Stock through a private placement.
Global Special Risks, Inc., a managing general insurance agent with facilities in Houston and New Orleans, is an international insurance coverholder/wholesale broker specializing in energy industry insurance programs.
For more information: Boots & Coots International Well Control, Inc., 5151 San Felipe, Ste. 450, Houston, TX 77056. Phone: 713-621-7911. Fax: 713-621-7988.