Understanding Energy Insurance

This Understanding Energy Insurance training course will utilise a variety of proven adult learning techniques to ensure maximum understanding, comprehension, and retention of the information presented during the five days. It will employ active-learning techniques, group discussion, and quizzes to enhance the training course session. The delegates will also be provided with a few challenging case studies with actual energy project scenarios – and the facilitator will guide them through achieving appropriate and practical solutions. A proper understanding of the coverage provided under the various energy operational risks wording is essential to appreciate this subject.

Meanwhile, the delegates are also urged to raise their own experiences in dealing with energy projects, site work and design experiences to the class for further review and group discussion. The class sharing and group deliberation will make this an exciting learning procedure.

By attending this training course, the delegates will be able to make a substantial, positive impact on the learning best practices within their organisation, more specifically:

• Learn how insurance coverage for energy schemes are arranged and underwritten
• Know the concerns of the underwriter when considering various energy-related risks
• Consider risk management steps during the project implementation stage and beyond
• Appreciate how the risk transfer process takes place
• Highlight the key points of the different insurance policies and how they are triggered
• Discuss and expand the practical application of these industry best practices

This Gulf Rowad training course is suitable for a wide range of professionals involved in any aspect of Energy Risks (Construction, Erection, and Operational aspects) and who want to understand, implement, and improve the latest energy insurance coverages formats & wordings.

Ideally for Senior Executives, Senior Engineers, and Managers from the following industries: 

• Energy & Power Industry: Plant Operators, Suppliers, and Specialist Equipment Vendors
• Government Officials, Ministries, Public Sector Agencies, Regulators
• Government Entities and Institutions: Public Works, Local Council, and Energy Authorities
• Banks, Financial Institutions & Fund Managers
• Buyers of Insurance: Contractors, Builders, and Sub-Contractors
• Oil and Gas Project Consultants, Architects, Design Specialists, Land Surveyors, and Quantity Surveyors
• Insurance, Reinsurance Companies, Insurance Brokers, and Reinsurance Brokers
• Insurance Regulators, Legal Personnel, Arbitrators, and Loss Adjusters

Organisational Impact

Upon the completion of the training course, the organization would benefit from:

• A better management of insurance procurement & coverage for their risks
• Know the validity of insurance coverage are more accurately secured
• Better role and support underwriters’ expectations
• Better risk management themes, when implemented at the site, will bring about a safer operational risk
• Knowing the overall savings in terms of premium reductions can be secured in the upcoming policy renewals
• A more professional approach in handling and follow-up of claims

Personal Impact

On successful completion of this training course, the delegate will be able to:

• Understand the risk and insurance subject better
• Manage to coordinate better with the stakeholders on-site and client representatives 
• Communicate better with the insurance personalities like insurers, brokers, and reinsurers
• Have clarity about risk management procedures on site
• Comprehend the world of insurance is an asset to the individual in the energy industry