Standing On The Wall - PowerPoint PPT Presentation

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Standing On The Wall

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I have a greater responsibility than you can possibly fathom. And my existence, while grotesque and incomprehensible to you, saves lives. ... – PowerPoint PPT presentation

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Title: Standing On The Wall


1
Standing On The Wall
  • An Engineers Role in Risk Management and
    Insurance

2
What is Standing on the Wall?
  • You are The Corporations Sentry
  • Son, we live in a world that has walls. And
    those walls have to be guarded by men with guns.
    Whos gonna do it? You? I have a greater
    responsibility than you can possibly fathom. And
    my existence, while grotesque and
    incomprehensible to you, saves lives. You dont
    want the truth. Because deep down, in places you
    dont talk about at parties, you want me on that
    wall. You need me on that wall.
  • Jack Nickelson
  • A Few Good Men

3
Engineers Role in Risk Management and Insurance
  • Engineering as the Corporations Sentry
  • Engineering Factors that Influence Insurance
    Carriers
  • Integral Role of Engineering In The Insurance
    Placement Process

4
Engineering As the Corporate Sentry
  • Acquisition Due Diligence
  • Environmental Surprises
  • Historical Failure Analysis
  • Deal Veto Power
  • Operational Risk Management
  • Quality of Construction
  • Environmental Safegaurds
  • Loss Lessons Learned

5
Acquisition Due Diligence
  • Environmental Surprises
  • Are there processes in place to catch data gaps
    in integrity data?
  • Where does construction integrity data stop?
  • What was cause of historical failures?
  • Will your processes/protocols change this?

6
Acquisition Due Diligence
  • Deal Veto Power
  • If you cannot get comfortable with assets, can
    engineering stop a deal?
  • Can engineerings input effect the construction
    of the Purchase Sale Agreement?

7
Operational Risk Management
  • Quality of Construction
  • Are there specific construction related issues
    that have lead to pipeline failure?
  • Poor pipe quality
  • Climate conditions
  • Corrosion protection failures
  • Ability to set/control materials construction
    specifications
  • Adaptation of New Construction methods

8
Operational Risk Management
  • Environmental Safeguards
  • Leak Detection Processes
  • Additional Leak Prevention/Leak Control Measures
    in Sensitive Areas
  • Adaptation of New Detection technologies

9
Operational Risk Management
  • Loss Lessons Learned
  • Process of Failure Analysis
  • Process Modifications as Result of Failure
  • Implementation of Process Modifications

10
Engineering Factors that Influence Insurance
Carriers
  • Engineerings Up-to-Date Technology Knowledge
  • Engineerings Ability to Control Losses
  • Engineers Emphasis on Protecting Environment

11
Engineering Factors that Influence Insurance
Carriers
  • Engineerings Up-to-Date Technology Knowledge
  • Are control systems latest technology
  • Are their documented failures with control
    technology
  • What training is provided to operators of
    technology

12
Engineering Factors that Influence Insurance
Carriers
  • Engineerings ability to control losses
  • Access to Sr. Management
  • Ability to Control Construction Process
  • Ability to Control Loss Control Process
  • Ability to Effect Organizational Change

13
Engineering Factors that Influence Insurance
Carriers
  • Engineers Emphasis on Protecting Environment
  • Engineerings involvement in E H and S statement
  • Engineering has a proactive versus reactive
    engineering approach
  • Engineering is educated on environmental
    regulations to stay in compliance and out of the
    regulatory doghouse

14
Integral Role of Engineering in the Insurance
Placement Process
  • Engineering should be part of every insurance
    market presentation
  • Engineering Risk Management present unified
    front of loss control being Priority One
  • Engineering can eliminate any market hesitations
    due to past losses/fast growth
  • Engineerings role in claim/incident reporting
    process

15
Integral Role of Engineering in the Insurance
Placement Process
  • Engineering should be part of every insurance
    market presentation
  • Role is to show skill as corporate sentry with
  • 1st hand knowledge/expertise of pipeline
    construction methods, intergrity testing methods
    and results
  • 1st hand knowledge/expertise of corporate due
    diligence standards
  • 1st hand knowledge/expertise in incident
    examination/corrections

16
Integral Role of Engineering in the Insurance
Placement Process
  • Engineering Risk Management present a unified
    front that loss control is Priority One
  • Role is reinforce Corporate position of safety
    loss control
  • Examples of loss control efforts effects
  • Engineerings role in crafting corporate
    environmental safety statement
  • Examples of how cooperation has positively
    effected claims/incident frequency

17
Integral Role of Engineering in the Insurance
Placement Process
  • Engineering is part of claim/incident reporting
    process
  • Role is to show proactive, cooperative effort to
    address any failure or incident through
  • 1st hand knowledge of loss signals
  • 1st hand knowledge of response process
  • 1st hand knowledge of loss control/process
    modifications to reduce frequency severity
    potential

18
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