The Importance of Lloyd’s Market Within the Energy Reform
The iconic Lloyd’s building in London is one of the most emblematic and important places for the insurance industry and it is commonly known as the birthplace of marine insurance throughout the world. It is where vessels, oil rigs and the most complex drilling and construction projects both on land and sea, are protected.
By: Paulina Meza Photo: NRGI Broker
e wanted to enter the world of the petroleum risk assurance, that is why we interviewed Graciela Alvarez Hoth, CEO of NRGI Broker in the Lloyd’s building, in front of the iconic bell that sounds when an important event happens in this market. For some thirty years, Graciela Alvarez has specialized in the placement of insurance and re-insurance coverage of intricate oil related activities for various national and foreign companies.
When asked about the origin of Lloyd’s she replied … “It all started in the Edward Lloyd’s coffee house, as the birthplace of marine insurance during the lat 1600’s where traders and merchants would meet to insure their vessels and cargoes. Today the latest Lloyd’s building is still the focal point of the British insurance industry, but the merchants and traders have been replaced by the world’s most prestigious brokers and solvent insurers but still meeting in a single market place, under the Lloyd’s Franchise.
It is in Lloyd’s where we place the reinsurance through one of the companies of Grupo Vitesse, its reinsurance broker specialized in the full spectrum of risks as required by the energy industry in Mexico, an activity that nowadays has a high importance due to the global best practices which will become obligatory for all companies and corporations involved with contracts within the Energy Reform in our country.
Our expertise in the design of comprehensive insurance programs to cover the risks assumed by companies in the oil fields, and complex activities performed daily in this industry have allowed us to successfully face the moment of truth, when you have to attend a major claim, highlighting and demonstrating the importance of being well insured.
“The result of working with professionalism, efficiency, passion and loyalty over the years in the oil industry, has given us the expertise and capacity to respond as we enter a new era, not only to oil companies, but also to advise companies in all sectors of the energy market be it renewable or traditional.“
In NRGI Broker we have the commitment to exceed excellence in service, it is our best guarantee to meet the expectations of the most demanding customers who will need support in order to fulfill one of the most important requirements being established within the Energy Reform – being the best global practices in insurance”. Alvarez Hoth emphasized.
