Risk Theory Launches Downstream Energy Program for Contractors

DALLAS, Oct. 13, 2020 /PRNewswire/ — Risk Theory, LLC is excited to announce the launch of a new specialty underwriting unit, Carbon Underwriters, for Downstream Energy Contractors. This exclusive package program offers essential products for downstream energy contractors working in petrochemical plants and refineries in CA, IL, LA, OH, OK, PA, TX, & WA.

Carbon Underwriters multi-line insurance offering, led by niche Vice President Jonathan Doke, is essential for downstream energy contractors working in petrochemical plants and refineries. As industry experts, Carbon understands the insurance needs, and tailor coverage solutions to help fuel growth for downstream energy contractors.

Coverage is written on an admitted and non-admitted basis by an insurer rated A- (Excellent) by AM Best, and provides the following multi-line insurance coverage solutions:

  • Business Auto
  • Commercial General Liability
  • Commercial Excess Liability
  • Commercial Property
  • Commercial Inland Marine

For more information about the Carbon Underwriters Downstream Energy Program for Petrochemical Plant and Refinery Contractors, please visit or email us at or [email protected]

About Risk Theory, LLC

Founded in 2012, Risk Theory is a privately held specialty lines insurance manager with a dedicated focus on delivering niche property & casualty insurance products to underserved markets. Headquartered in Dallas, Texas, Risk Theory is licensed to place policies in every state through its nationwide network of producers. Our mission is rooted in pairing market experts with essential products to drive the value and service needed to win in today’s complex world. For more information, please visit 


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CSOs decry efforts to sabotage FG’s free antiretroviral program

….commends NACA’s plan to establish HIV Trust Fund

By Gabriel Ewepu, Abuja

Two Civil Society Organisations, Civil Society Legislative Advocacy Centre, CISLAC, and Transparency International Nigeria, Thursday, decried contractors allegedly sabotaging the Federal Government’s effort on the sustenance of free antiretroviral drugs for 3.1 million people living with HIV/AIDS in the country.

This was contained in a statement signed by Executive Director, CISLAC, Auwal Musa Rafsanjani, and made available to Vanguard, where they also alleged that the contractors were aided to defraud the government by insiders at the National Agency for the Control of AIDS, NACA, who prevent the Agency from buying HIV drugs directly from original manufacturers.

According to CISLAC/TI Nigerian contractors currently sell the anti-retroviral drugs at $13 per patient as against $7 given by the manufacturers.

The statement reads in part, “While international treaties and governments across the world recognize adequate, accessible, and affordable health care as a fundamental human right, medicine financing in Nigeria is generally out-of-pocket.

“The continued rise in price has made many essential and prescription medications unaffordable, and therefore inaccessible, by quite a large number of Nigerians, who live below the poverty line. This without a doubt comes with grave consequences of morbidity and mortality to consumers of health care products in Nigeria.

“The non-affordability triggered by high production and supply costs encourages the sale of fake and substandard drugs in the country, while consumers who are compelled to seek cheaper drug alternatives ceaselessly fall prey to fake and substandard drugs with damage to their health.

“As the Nigerian government struggles to sustain the provision of free antiretroviral drugs as part of HIV programmes at health facilities in the country for an estimated 3.1 million people living with HIV/AIDS, this effort is mostly sabotaged by inflated prices quoted by supplying contractors, whose activities

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COA demands blacklisting contractors who caused delay of BFP’s modernization program

The Commission on Audit has demanded the blacklisting of contractors who have caused the continued delay in the implementation of the Bureau of Fire Protection’s modernization program that guarantees the establishment of one operational fire station in every municipality and city in the country.

COA revealed in its 2019 BFP annual audit report that was released days ago that 170 fire stations remained unfinished in 2019, or have been abandoned by the contractor due to various reasons.

In the same audit report submitted to BFP Director Jose S. Embang Jr.,  COA Director Michael R. Bacani also revealed that the firefighting agency has transferred P4.309 billion to two procurement service agencies of the government for the purchase of supplies, materials and equipment and to finance various infrastructure projects.

Despite receiving the allocation from the BFP, the Procurement Service of the Department  of Budget and Management and the Philippine International Trading Corporation have failed to deliver the orders for several years now.

“Thus, depriving the agency of the immediate use of the items which are crucial in the discharge of the agency’s operation and unnecessarily making the fund idle in the custody of the PS-DBM and PITC,” COA lamented.

The state audit agency called for an investigation into the cause of delay in the implementation of construction projects with contracts already awarded to construction firms.

These projects are part of the BFP modernization program approved by government.

Auditors  called for the blacklisting of the contractors who have reneged on their contract obligation to deliver on time the fire station projects.

Recovery of liquidated damages and forfeiture of performance bonds of erring contractors were also proposed by COA.

According to the COA report, the implementation of the fire station construction projects has been entrusted to the PITC in 2017 although there was no

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Defense contractor who gave to Susan Collins accused of defrauding her business loan program

A Hawaii defense contractor who has donated to U.S. Sen. Susan Collins and whose business operates in Maine faces federal charges alleging he defrauded the Paycheck Protection Program, the small business loan program championed by the senator.

Martin Kao, the CEO of Martin Defense Group, formerly known as Navatek LLC, allegedly inflated the number of his employees his business had and how much they made to get a $10 million loan, then deposited $2 million into his personal bank account, according to a criminal complaint filed in U.S. District Court in Hawaii on Tuesday.

He then allegedly applied for a second loan. Kao, 47, is set to make an initial appearance in federal court in Honolulu on Thursday, according to U.S. Attorney Kenji M. Price’s office. He is facing two charges of bank fraud and five charges of money laundering.

The defense contracting company, headquartered in Honolulu, Hawaii, said it grew to employ 40 engineers and scientists in Portland and Bangor offices this summer. It has offices in six other states and primarily designs ship hulls for the U.S. Navy. Kao appeared with Collins at a company event in Portland last year after his company won an $8 million Navy contract.

Kao allegedly flaunted ties to U.S. senators in conversations with officials at a Hawaii-based bank in loan conversations, noting in an April 2 email his company operates in multiple states and saying he “work[s] very closely” with senators from those states who “championed” the March coronavirus relief bill that included the loan program, according to the criminal complaint. 

It does not name the lawmakers with whom he allegedly talked. Collins spokesperson Annie Clark said Thursday morning the Republican senator had not spoken with Kao since August 2019 and no one in her office had contact with him or his

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LHC announces improvements for Emergency Rental Assistance Program

The Louisiana Housing Corporation announced on Wednesday improvements to the state’s Emergency Rental Assistance Program (LERAP) that aim to improve access for renters and landlords impacted by COVID-19.

LHC has reduced the application length and divided it into components for renters and landlords. E-signatures are now allowed for faster receipt of documentation required by the federal government. In addition to hosting in-person outreach events in New Orleans and Baton Rouge, LHC is scheduling events around the state to serve those with limited access to the internet, or who otherwise may need help in submitting their application.

“We know COVID-19 has impacted thousands of Louisianans, and emergency rental assistance is needed by many. LHC’s goal is to provide that assistance as soon as possible and after receiving feedback on how to improve the process, we have made several adjustments,” said LHC Executive Director Keith Cunningham, Jr. “Although there are federal requirements that we must abide by, our team has been able to significantly reduce the application length, as well as establish partnerships to assist with the delivery of services. In addition, we are encouraging applicants to stay in touch with the program through our customer service center. By working together, we will see even more progress.”

LHC is continuing to expand its partnership with local housing entities across the state to provide direct assistance to help renters and landlords impacted by COVID-19 complete the necessary paperwork.

Since launching LERAP on July 16, 2020, over $7 million has been committed to eligible applicants, preventing more than 3,000 families from being evicted.
In July 2020, the Louisiana Housing Corporation (LHC) and the Louisiana Office of Community Development (OCD) partnered with the Continuum of Care network to launch a program to address imminent housing needs across the state caused by the financial impacts of

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