MITIGATION STRATEGIES

The Executive, supervised by the Board, ensures that through robust measures, the principal strategic, project and operational risks to NiQuan Energy’s business and affairs are identified and that measures to mitigate and manage such risks are implemented. The Board monitors progress on corrective and mitigation actions. With the assistance of expert professional risk managers, a comprehensive Risk Register was established and which is reviewed and updated when material developments occur.

Further, a comprehensive suite of corporate insurance policies is maintained and which include coverage for the plant, property and equipment on an all-risks basis, operational insurances, third party liability, environmental and pollution cover, vehicles, group health and life, and workmen’s compensation. These insurance policies have been structured and placed in the insurance and reinsurance markets using professional advice and guidance from reputable insurance brokers like Aon Energy London.