The Energy Engineering Team plays a fundamental role in our Global Energy’s assessment of individual risks and provides invaluable information that allows our Global Energy department to objectively differentiate, not only the exposures associated with the risk but also the quality of the risk. The Energy engineers provide a range of services to both underwriters and clients including:
- Risk surveys and risk improvement recommendations
- Desktop reviews of broker submissions
- EML assessment using our modified empirical approach – a method long accepted by the Energy market and developed based on actual VCE incidents.
- Business interruption / Delay in start-up / ALOP studies
- Technical input to claims. Engineering is a strategic part of the underwriting process (in conjunction with claims) helping to provide a unified approach.
- Management of third party engineering specialists which complement the AGE in-house resources e.g. warranty surveyors engaged on offshore construction projects.
Our Global Energy’s Engineering expertise, whilst an essential part of AGE’s Underwriting strengths, can also provide significant benefit to our clients. Our Engineers have a very wide base of experience and have had the opportunity, over many years, to assess different exposures throughout the world for all of the different risk types underwritten by AGE in both the upstream and downstream sectors of the oil industry. They can often draw upon their experience to give advice and recommendations, which can prove invaluable in terms of Risk Management and Loss Prevention.
Our Energy Engineers have recently adopted a new method of risk assessment - Risk Performance Indicators where 10 key risk elements are assessed to give a better understanding of the critical areas of a plant.