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Energy & Power

Risk Engineering - Supporting Your Risk-Based Decisions With Insights

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:

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.

For more detail on the products and services our team of risk engineers can provide read our brochure.  

Engineering Position Papers

Marsh’s engineering position papers leverage our knowledge on best practices to establish standards that don’t currently exist. These papers define the key attributes that we would define as being “very good.”

 

1.       Global Trends in Energy Risk Improvement Recommendations

2.       Pre-Start-Up Safety Review

3.       Process Safety Performance Indicators

4.       Fire Pre-Plans

5.       Atmospheric Storage Tanks

6.       SIS Trips and Alarms

7.       Management of Change

8.       Shift Handover

9.       Process Hazard Analysis

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

Other Energy & Power thought leadership

The 100 Largest Losses in the Hydrocarbon Industry 1974-2017

Rethinking Business Interruption Risks in an Optimized Oil and Gas Industry

Removing Bias from Decision Making in the Energy and Power Industry

Hurricane Harvey: Energy Risk Engineering Insights