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Risk Engineering

Marsh has one of the largest energy and power risk engineering teams within the global insurance broking industry. For over 30 years we have supported our 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 across a broad range of energy and power asset types.

Supporting your:

Risk identification

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

  • More appropriate insurance cover.
  • Possible premium reductions.

Risk mitigation and control

Best practice guidance on loss control measures.

  • Reduce the frequency and severity of outages and losses.

Reduction of cost of risk

Accurate risk evaluations and loss modelling.

  • Supports your risk mitigation and retention strategies.

Identification of areas where risks could be reduced — An independent review of your plant and systems by an outside expert will provide recommendations for high impact risk improvements — this could significantly change your risk profile for the better.

Significant savings — There is the potential for significant savings to your total cost of risk.

Demonstrable strategic planning — You will be able to clearly demonstrate the logic behind your insurance risk finance decision-making process and resulting program structure.

Industry wide benchmarks — You will gain access to comparative data that will help provide insight in support of your organization’s wider operational excellence goals.

Engineering Position Papers

Marsh’s engineering position papers leverage our knowledge on best practices to establish standards that don’t currently exist. 

  1. Management of Temporary Repairs
  2. Remotely Operated Emergency Isolation Valves (ROEIVs)
  3. Global Trends in Energy Risk Improvement Recommendations
  4. Pre-Start-Up Safety Review
  5. Process Safety Performance Indicators
  6. Fire Pre-Plans
  7. Atmospheric Storage Tanks
  8. SIS Trips and Alarms
  9. Management of Change
  10. Shift Handover
  11. Process Hazard Analysis
  12. Process Isolations

Power Deep Dive

  1. Human Element
  2. Emergency Systems
  3. Asset Integrity Management
  4. Process Safety Management

Benchmarking Papers

Marsh uses a proprietary risk-ranking system to provide an absolute measure of risk quality when compared against a defined set of criteria. From these rankings, Marsh developed its benchmarking tool to provide a proactive risk-improvement approach based on current standards and best practices, in sharp contrast to improvement plans that are based on historical performance. For many of our clients, Marsh's bespoke benchmarking reports have already proved to be a catalyst for change. To get an understanding of our benchmarking capabilities take a look at our regional benchmarking reports below:

2018 — Benchmarking the Middle Eastern Energy Industry: Remaining Strong Despite Industry Wide Cost Cutting Measures

2016 — Benchmarking the Middle East Onshore Energy Industry: Strengths and Opportunities of an Energy Superpower

2016 — Benchmarking the Asian Energy Market: Strengths and Opportunity

For more details on the products and services our team of risk engineers can provide.