JLT provides risk engineering insurance services across the energy industry, from offshore and upstream, through downstream refining and petrochemicals, to midstream and LNG operations. This can be at the construction and operational phases.
Our industry experienced risk engineering team will work with you to find the right solution for your energy project, including property risk control and risk information about natural hazards.
By having risk engineers who understand your business, we can excel at assisting our clients in addressing the key negative issues that impact their business and offering risk solutions creatively, effectively and efficiently.
Our services are designed to support the improvement to clients’ existing risk controls, further reduce risk exposures and so enhance the risk quality, when it is presented for insurance.
WHAT WE DO
PROJECT RISK ENGINEERING
From the design phase through construction, and into handover to the operational, we can work with you to report on the assets in place, any risk issues arising and how they are addressed and assist in developing appropriate risk reduction activities.
This is achieved initially by working with your project team, and then by conducting on-site surveys as the construction progresses. These can be at the main site but also can include fabrication yards at home and abroad.
The latter is necessary as many construction projects have specialist designs and cutting-edge equipment which can lead to complex supply chains reaching around the globe.
Delays occurring in these supply chains can detrimentally affect an energy project, therefore an experienced risk assessor to determining where vulnerabilities lie can be invaluable.
BUSINESS INTERRUPTION EXPOSURE ANALYSIS
To enable you to prepare for the worst case scenario, it is vital you understand your business interruption (BI) exposures.
We can work with you to produce BI calculations which focus on validating the potential interruption, and additional contingent BI loss from an asset protection perspective, whilst considering the impact of key suppliers and critical customers.
This process will enable you to understand the post loss recovery time from a major incident and support any preventive measures in place to reduce exposure, but can also justify improvements.
RISK INFORMATION – NATURAL HAZARDS
Many of our clients operate in locations that are vulnerable to natural hazards including: earthquake, typhoon, windstorms, heatwaves and volcanic eruptions. Our specialists have considerable experience identifying natural hazards exposed to a site.
By working with insurance market and inhouse catastrophe models, as well as conducting on-site surveys, we can highlight where the main loss exposure is and recommend ways to manage these from an insurance perspective. Additionally we will calculate the maximum foreseeable loss (MFL) and estimated maximum loss (EML) exposures to validate our findings.
- Whether it is design and construction, operational, in the decommissioning or transition phase (before or after sale), we conduct surveys and produce reports for clients to provide relevant information for insurance purposes
- With experienced specialists, and a broad spectrum of skillsets, our risk engineering team can support clients as they face the challenges of good times and bad. Losses do occur. Losses are preventable, so it is important to learn from the lessons of the past. What you do not monitor, you cannot improve. We can assist in risk reduction, and are here to assist you
- We are not constrained by geographic boundaries, which allows us to work with you wherever you need us. We work with you to implement innovative and effective ideas which will benefit your financial strength and reputation
- You can feel comfortable to call us, at any time of the day or night. We will deal with your query immediately. A quick and proactive response when claims occur to get speedy settlements.