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Risk Engineering

Marsh Risk Engineering is uniquely qualified to provide risk managers and underwriters with the essential information they need to determine the right limit and scope of cover, and at the right price.

Risk identification

In-depth risk profiling provides clarity for both you and your insurers

  • More appropriate insurance cover
  • Improve operational practices

Risk mitigation and control

Best practice guidance on loss control measures

  • Reduce the frequency and severity of outages and losses

Optimize cost of risk

Accurate risk evaluations and loss modeling

  • Supports your risk mitigation and strategies

Marsh has one of the largest risk engineering teams within the global insurance broking industry. For over 30 years we have supported energy and power clients in successfully managing their cost of risk. Our services are delivered by highly qualified industry experts with hands-on experience in design, construction, operation and decommissioning of a broad range of energy and power assets.

Marsh Specialty’s risk engineering team can help you:

Identify areas where risks could be reduced — An independent review of your plant and systems by an engineer will provide recommendations for high impact risk improvements. This could significantly improve your risk profile.

Achieve significant savings — Improving your risk profile may enable you to reduce your insurance costs.

Demonstrate strategic planning — You will be able to clearly demonstrate the logic behind your risk finance decision-making process.

Make data driven decisions — You will gain access to comparative data that will help provide insight to support your organization’s broader operational excellence goals.

Risk Engineering position papers

A Marsh risk engineering position paper defines the high level of standards that would be expected within the oil, gas and petrochemical industry. They include technical guidance, share best practice and include suggestions for improving operations. 

As a result of the Buncefield incident in December 2005, more guidance has been provided to designers and operators of facilities regarding atmospheric storage tanks. The guidance has been included within this Marsh Specialty position paper.

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The scope of this position paper includes the description and purpose, the ownership and development, and the format and content of fire pre-plans. It is applicable to any facility handling hydrocarbons and toxic materials.

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Global Trends in Energy Risk Recommendations examines global, regional, and large company trends in light of these recommendations to identify areas of risk that require the greatest levels of attention.

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During the lifetime of an operating process plant, many changes will occur. Each one of these changes has the potential to increase the risks involved in operating the plant, for example, through:

  • Inadequate identification or evaluation of the risks of making the change.
  • Inadequate physical design or execution of the change.
  • Inadequate communication and documentation of the change.

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Some organizational changes – for example, changes to minimum staffing levels – are not always analyzed and controlled as thoroughly as engineering changes, such as those made to a plant’s operation. But in any part of an organization, insufficient analysis can increase the potential risk of accidents. This report aims to help operating sites identify various types of organizational change, and provide practical guidance on how to manage them.

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This position paper reviews common repair techniques and focuses on the management, inspection, audit, and life-cycle analysis of a variety of temporary repair types.

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A system for managing the defeat of SIS trips and alarms should be robust enough to cater for all eventualities; details on how to best manage this process are covered in this position paper.

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In this paper, we summarize some of the key considerations when conducting a pressure test on process equipment. Common practical limitations, and respective solutions, are also described.

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This position paper covers the value of the PSSR process — when to conduct one, who should be involved, the steps in a PSSR, monitoring, and checklists.

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This paper on PHA looks at the steps that can be taken to minimize the risk of a serious incident. Many of the PHA techniques discussed in this paper are considered to be well established within the industry, and standardized templates have been developed for organizations.

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This paper defines the key attributes and processes required to establish a good process isolation management system in the oil, gas, and petrochemical industries. The paper also focuses primarily on operating site activities that require a break of the pressure envelope on systems that contain hazardous fluids, or critical utilities that have the potential to lead to significant losses.

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This paper explores how the development of an effective PSPI system can provide a clear view on how well process safety is being managed at a site and across the wider organization.

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ROEIVs are safety-critical equipment. Their primary purpose is to provide effective and timely isolation of plant items containing hazardous substances in the event of the primary containment system failing (including leaks from pipework and associated fittings, and pump seals).

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A lack of effective information transfer has led to serious process safety incidents in the energy industry. This position paper provides guidance on how to establish accurate and reliable communication of information from one set of shift workers to another.

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Benchmarking reports

Marsh uses a proprietary risk ranking system to provide an absolute measure of risk quality when compared against a defined set of criteria. Our engineers have developed a benchmarking tool to provide a proactive risk-improvement approach based on current standards and best practices.

Middle East energy industry

Fourth edition

Our people

Jasper Clark

Jasper Clark

Risk Engineer, Marsh Specialty

  • United Kingdom

Energy Insurance Training Courses 2024

Marsh Specialty conduct regular energy insurance and energy risk management courses throughout the year which are available in beginners, intermediate, and advanced levels.

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