Our Services

Insurance Risk Surveys – Engineering Construction (EAR) of Oil, Gas & Petrochemicals Risks

We specialise in conducting risk surveys (site visits) on behalf of EAR Underwriters. Our approach to EAR risk surveys is in line with London Engineering Group (LEG) protocol. Typically this comprises:  
  • Development and issue of an Insurer Risk Engineering Management Programme.
  • Pre-survey conference call with Insured, Lead Underwriter and Broker.
  • Typically 2-3 risk surveys during the project (at civils, erection and mechanical completion stages).
  • Each survey typically 2-3 days (depending on the size of the project)
  • Immediate issue of any recommendations and observations during the site visit
  • Rapid completion and issue of the site visit report within 30 days (in line with LEG)
  • Desktop reviews of project progress reports (typically monthly)
Our focus during EAR risk visits is on:
  • Presenting lessons learned from losses and our experience from other projects. The intention is to provide value to the Insured Project Management Team and shape the Insured risk management programme.
  • Verification of compliance with the Insured and worldwide best practice standards and procedures. This means a focus on field verification in particular of quality assurance and quality control, construction safety, emergency response and testing and commissioning systems, practices and procedures.

Insurance Risk Surveys – Onshore Energy

We specialise in conducting risk surveys (site visits) on behalf of onshore energy Underwriters. Our approach to onshore energy risk surveys is in line with the Lloyds Market Association (LMA) Guidelines for The Conduct Of Oil, Gas & Petrochemical Risk Engineering Surveys. Typically this comprises:  
  • Pre-survey conference call with Insured, Underwriters and Broker.
  • Typically 2-3 risk surveys
  • Immediate issue of any recommendations and observations during the site visit
  • Rapid completion and issue of the site visit report within 30 days
Our focus during risk visits is on:
  • Presenting to the Insured lessons learned from losses based on the analysis of large losses in the Oil, Gas & Petrochemicals industries.
  • A focus during the survey of those elements of the risk which generally are the causes of most large energy losses i.e. mechanical integrity, control of work. process hazards analysis, control of work, management of change and the management of safety critical devices.
  • A focus on compliance by field verification. It is lack of compliance with established practices and procedures which is the cause of most large man-made losses.
  • Our risk rating system is designed for underwriters and is biased towards those elements of the risk which cause large losses.

Risk Engineering in-house training for Insurers

We can provide in-house training to Insurers Underwriters, Risk Engineers and Claims personnel based on our market experience. We specialise in the Risk Engineering aspects of Engineering Construction (EAR) and Onshore Energy Risks (Oil, Gas & Petrochemicals). Typically topics covered would be:
  • Hazards & Exposures of Oil, Gas & Petrochemicals risks
  • Causes of losses. Lessons learned
  • Estimated Maximum Loss calculations, methodology, tools. Property damage and business interruption/Delayed Start Up
  • Risk selection and risk rating methodologies
  • Risk survey approaches
  • Valuation methodologies and estimates