ANNOUNCEMENTS/PRESS RELEASES
August 2008 Energi to Acquire Conifer Energy
PEABODY, Mass. -- Energi Holdings Inc. and
Conifer Insurance Agency, Inc. today announced that they have signed a
definitive agreement under which Energi Holdings will purchase
substantially all of the assets of Conifer Insurance Agency, Inc. The
terms of transaction have been approved unanimously by both the Energi
and Conifer Boards of Directors. The terms of the transaction are not
disclosed at this time.
Full
Press Release.
July 2008 Energi Program Update
Energi Holdings Inc.
is pleased to announce that a significant milestone was attained as the
30th Policyholder / Shareholder joined the Energi Fuel Captive
Distribution Program. The Energi Program provides property, general
liability, workers’ compensation, commercial automobile, excess
liability, site pollution liability, and EPLI.
Full Press Release.
November 2007 Annual Policyholders Meeting
First Annual Policyholders board
meeting in Hamilton, Bermuda scheduled for November 1-4, 2007, sponsored
by Conifer Energy. Click
here for more details.
Oil & Energy Magazine
Captive Insurance Program Rewards Safe
Practices
February 2007. A new insurance program developed by a
Massachusetts-based insurance company exclusively for fuel distributors
has launched with 15 policyholders, and enrollment is expected to
quadruple in 2007.
Full Article.
New Captive for Fuel Distributors Brings
Much Needed Capacity to Market
Conifer Energy Offer Captive Program for Fuel Marketers
BOSTON – Conifer Energy, a division of Conifer
Insurance Agency, Inc. announced today that it has entered into
definitive agreements with two “A+ rated” insurance carriers to become
the program administrator for two alternative risk programs that will
become part of the Energi insurance program for the fuel distribution
companies. One program is designed to target Fuel Distribution companies
with primary operations involving Propane and Home Heating Oil
Distribution while the other program will focus primarily on Multi-Fuel
Distribution companies. Energi is an insurance program for fuel
distribution companies that are committed to “Industry Best Practices”.
These programs will be available for retail and wholesale distribution
of home heating oil, propane, gasoline, diesel, kerosene and lubricants
in all 50 states. Coverages available include property, general
liability, pollution
liability (including site), commercial automobile, workers compensation,
excess liability and directors and officers’ liability coverage.
Full Press
Release.
What a fuel oil
dealer operating in Connecticut should know about the financial
responsibility for the Clean-up costs of a home heating oil release?
May 2006. As
one of
the leading risk management and insurance brokerage firms for the energy
industry,
Conifer Energy has witnessed numerous situations where a fuel oil dealer
committed itself to cleaning up home heating oil spills without
appreciating the responsibility Connecticut’s environmental laws places
upon the homeowner.
Full
Article.
Oil & Energy Magazine
October 2005. "Who Should Shoulder Clean-up Costs for a Home Heating Oil Release?" Author: Allain P. Collins. Page 30.
Conifer White Paper
Released
Shouldering Clean-up
Costs for a Home Heating Oil Release
Key Issue: Where does the financial responsibility
fall for the
clean-up costs of a home heating oil release?
July 2005. As one of the leading risk management and
insurance brokerage firms for the energy
industry, Conifer Energy has witnessed numerous
situations where a fuel oil dealer
committed itself to cleaning up a fuel oil spill
without taking into account the facts
giving rise to the incident. The fuel oil supplier
may believe that its very presence at a fuel spill
is enough to require its payment for the remediation
of the contamination. However, Massachusetts’
environmental laws present different alternatives
that should be considered by each dealer when
confronted with such a situation. To obtain a copy of
this whitepaper, please click
here.
Conifer White Paper
Released
MTBE:
The Environmental Crisis of the Next Decade?
September 2004. Conifer Energy, a leading provider of insurance and risk management
programs for the energy industry, has issued a white paper concerning
the significant environmental impact relating to the gasoline additive
chemical MTBE. The white paper is titled: “MTBE…. The Environmental
Crisis of the Next Decade?”
The U.S. is faced with sharply increasing numbers of groundwater
contamination discoveries relating to MBTE. Methyl tertiary butyl ether
(MTBE) is a chemical compound used almost exclusively as a fuel additive
in motor gasoline. Since 1992, MTBE has been used in some gasoline to
meet the requirements of the Clean Air Act passed by Congress. It is
currently added to approximately 87% of the gasoline consumed by the
United States. Environmental problems with the compound led the EPA to
provide an advance notice of its intent to eliminate or limit its use as
a fuel additive. While the use of MTBE has helped to reduce harmful air
emissions, it also has caused widespread and serious contamination of
the nation's drinking water supplies.
The potential cost to remediate the US water supplies is estimated at
$29 billion. A number of major insurance carriers, until recently, did
not include MTBE exclusions in their property or liability policies.
While some insurance carriers have established additional reserves in
recognition of the growing MTBE exposures, others have not. Therefore,
Conifer believes that the potential for a financial disaster similar to
that provided by asbestos still exists.
Conifer Announces New Product Offering
May 2004.
Conifer Energy, a division of Conifer Insurance Agency, Inc. of
Peabody, MA has announced a distribution agreement with National Union
Fire Insurance
Company, a member of American International Group, Inc. Under the terms
of the agreement, Conifer Energy will provide wholesale distribution
for a variety of coverage options including property, casualty, medical,
life
and accident products.