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Services

RISK ENGINEERING & RISK MANAGEMENT SUPPORT

The fundamental philosophy of the Willis risk engineering service is to apply our in-house resources in a fully integrated manner to support our broking teams and the Project risk management objectives. Our approach can be described in three main service categories:

  • Risk Engineering – the collection, assessment and analysis of risk information by one of our team of specialist risk engineers in all industry sectors familiar with the key issues and unique exposures facing the project. We will identify and assess the expected worst case Estimated Maximum Loss (EML) scenarios for each of the main asset classes and insurance lines. These scenarios will be developed in full compliance with insurance market norms and expectations and updated as the project progresses, including liaison with lead underwriters and management of their information requests and surveys.
  • Strategy Development – provides direct input from the risk analysis process into the programme strategy development process. This stage also includes working with the various project participants to reach consensus on the agreed approach to risk transfer/retention strategy. Our risk engineers will further coordinate with the respective placement teams to provide technical input to justify chosen placement strategies
  • Risk Management Advisory - a direct output of our risk support services will be the development of risk improvement recommendations designed to prevent or minimise the risk to both insured and non-insured losses. The first stage of our risk engineering review will be based upon a Design Phase Risk Review at the detailed engineering stage of the project. At this time we can advise on the acceptability to future operational insurers of the project loss control features. In this way Project Management can make early and informed decisions regarding protection features at the facilities. The subsequent Risk Management Advisory role can include, for example, review of project changes; fire protection design studies/reviews to ensure insurer expectations are complied with; and review and approval of loss prevention/control systems upon which our engineers are well qualified to advise.

Willis GCS will work with our specialist risk engineering team to provide the most appropriate service for your project.

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