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RESEARCH AND BRIEFINGS

Global Trends in Energy Risk Recommendations

 


To help clients understand and improve their risk profiles and reduce the occurrence and magnitude of losses, Marsh’s risk engineers survey key energy assets such as refineries, petrochemical sites, and gas processing plants. A principal aim of these surveys is to enhance organisations’ risk profiles by issuing risk improvement recommendations.

Global Trends in Energy Risk Recommendations examines more than 4,000 recommendations that were made through more than 700 surveys to extract key insights into localised behaviours, trends, and improvement areas, which will help decision makers recognise and remediate risk.

The report concludes that there are several opportunities for risk improvement in the energy sector, particularly relating to management systems, which accounts for the greatest number of overall recommendations. Gaps in the application of these systems are significant contributors to some of the largest historical losses in the energy sector.

Budget constraints in the energy sector, driven in part by oil price volatility and an uncertain economic climate, should make the financial benefits of risk improvement more attractive.

Marsh Pty Ltd (ABN 86 004 651 512, AFSL 238983) (“Marsh”) arrange this insurance and is not the insurer. The Discretionary Trust Arrangement is issued by the Trustee, JLT Group Services Pty Ltd (ABN 26 004 485 214, AFSL 417964) (“JGS”). JGS is part of the Marsh group of companies. Any advice in relation to the Discretionary Trust Arrangement is provided by JLT Risk Solutions Pty Ltd (ABN 69 009 098 864, AFSL 226 827) which is a related entity of Marsh. The cover provided by the Discretionary Trust Arrangement is subject to the Trustee’s discretion and/or the relevant policy terms, conditions and exclusions.

This website contains general information, does not take into account your individual objectives, financial situation or needs and may not suit your personal circumstances. For full details of the terms, conditions and limitations of the covers and before making any decision about whether to acquire a product, refer to the specific policy wordings and/or Product Disclosure Statements available from Marsh on request.