HSB to Host 'The Energy School'
A dialogue with risk managers on insuring our nation's most valuable resource
Monday, October 13, 2008
PHILADELPHIA (October 13, 2008) - An upcoming forum hosted by The OIL Group of Companies, Energy Insurance Mutual Ltd., Nuclear Electric Insurance Ltd., and Saint Joseph’s University’s Erivan K. Haub School of Business, will help risk managers adapt to the challenges of protecting our nation’s energy companies from shattering losses.
From Oct. 19 – 24, attendees of "The Energy School" will interact with colleagues and hear remarks from government officials and energy and insurance executives. Among those speaking are outgoing Department of Environmental Protection Secretary Kathleen McGinty '85, and Marsh & McLennan chief executive, Brian Duperreault '69. A series of table top exercises will give attendees an opportunity to simulate a security threat to the U.S. energy market.
Catastrophic events like the tropical storms and hurricanes that have pounded the U.S. Atlantic and Gulf coasts since 2004 have threatened our country's energy resources.
The wake of Hurricane Ike, as reported by the U.S. Department of Energy in August 2008, paralyzed 15 U.S. oil refineries, with a total capacity of 3.861 million barrels per day. The last time hurricanes shut down as much crude oil and refining production in the United States was in 2005 when Hurricanes Katrina and Rita ripped through the region, devastating the Gulf Coast.
"Unanticipated disasters like these, whether from natural occurrences or man-made tragedies like the Exxon Valdez oil spill or the Three Mile Island accident, create an insurance nightmare for risk managers," said Sam Cupp, executive-in-residence in risk management and insurance at Saint Joseph's.
"The Energy School" will examine these occurrences and study their implications for insurance policies during the conference. The agenda also includes discussions of environmental issues, working through complex claims, interpretations for enterprise risk management, project financing, crisis management, general liability issues, ethics and the future of energy.
Saint Joseph's administrators speaking at the conference include Joseph DiAngelo, Ed.D., dean of the Haub School of Business; Sam Cupp, executive-in-residence in risk management and insurance; Paul DeVito, Ph.D., associate provost and executive director of the Early Responders Distance Learning Center; John McCall, Ph.D., director of the Pedro Arrupe Center for Business Ethics and professor of management and philosophy; and David Steingard, Ph.D., assistant director of the Arrupe Center and assistant professor of management.
Executives from Towers Perrin, Aon Risk Services of Texas, Nexen, Inc., The OIL Group of Companies, Exelon Corp., Sunoco, Dempsey Partners LLC, Energy Insurance Mutual Ltd., and Nuclear Electric Insurance Ltd. will also be speaking as part of the event.