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Course Schedule
Classroom Sessions:
Date Venue Fees
23 Sep - 04 Oct 2024 Dubai - UAE $11,900
Course Description


This training course is split into two modules:

MODULE I - Understanding Energy Insurance

MODULE II - Energy Risk Management

Each module is structured and can be taken as a stand-alone training course; however, delegates will maximise their benefits by taking Module 1 and 2 back-to-back as a 2-week training course.

Course Outline
Module 1: Understanding Energy Insurance


Overview of the Energy Industry and Insurance Aspects 

  • Types of oil and gas risks and differences between erection/operational exposure
  • Renewable energy and current trends in the industry
  • World oil economics and shale gas as an alternative energy source
  • Coal-fired & gas turbine plants
  • Offshore risks and marine-related issues
  • Explore the coverage provided by the various insurance covers


Understanding Energy Projects – Application of Construction and Erection Insurances  

  • Principles of insurance: What are they and appropriate examples?
  • CAR or EAR: What are the differences?
  • Discuss and identify trade risks
  • Is it underwriting or just undercutting?
  • How to affect the risk transfer mechanism?
  • Challenges when there is an incident at an energy project site


Appreciating the Wordings Under Section I And II in the Policy 

  • Material damage and third-party liability aspects
  • What are the concerns of the risk surveyor?
  • Investigation - Why is the cause of failure very crucial?
  • Role of the loss adjuster or loss assessor
  • Dealing with third-party damage claims
  • What is physical damage?


Operational Risks in the Energy Sector 

  • Property insurance: IAR/Fire policy coverage
  • Offshore operating risks
  • Business interruption insurance
  • Third-party insurance: General & pollution liability
  • Operator’s extra expenses insurance
  • Offshore construction risks
  • Considering the package policy


Handling Claims, Risk Management, and Recoveries 

  • Recovery (subrogation) is undertaken after the insurance company pays a claim
  • How is loss adjustment undertaken?
  • Application of policy excess or deductible
  • Why is risk management critical in energy projects?
  • Involvement in energy risks: Collapse, fire, explosion etc.
Module 2: Energy Risk Management


Overview of Energy Risk Management 

  • Introduction to risk & risk management
  • Risk management standards
  • Key definitions
  • Critical success factors for risk management
  • Organisational risk attitudes (Risk culture)
  • Organisational structures
  • Risk roles and responsibilities
  • Risk and strategy
  • Culture


Risk Management Categories 

  • Financial risks
    • Market risk
    • Credit & counter-party risk
    • Liquidity risk
    • Limit management
  • Operational risks
  • Systemic risks
  • Emerging risks
  • Strategic risks


Risk Reporting & Mitigation 

  • Understanding materiality
  • KRIs
  • Developing risk reports
  • Risk mitigation & controls
  • Aligning opportunities, strategy, and risk
  • Integrating risks across the energy business
  • Risk management accountability & ownership


Applying Risk Practices to The Energy Business 

  • Comparison of risk practices across sectors
  • Risk management’s role in strategic management and value creation
  • Leveraging existing operational risk management as part of ERM
  • Risk accountability structures
  • Tools and techniques
  • Aligning risk, compliance, & regulation

DAY 10

Energy Trading 

  • Energy trading: What, where, and how?
  • Overview of energy trading and risk management
  • Energy trading and risk management systems
  • Integration of technology as part of the risk architecture
  • ERM systems
  • Dealing with energy trading
  • ESG: The new frontier for risk
  • The Future - Risk and value creation
Providers and Associations

In Association With

The Energy Training Centre

The Energy Training Centre

Our collaboration with Energy Training Centre aims to provide the best training services and benefits for our valued clients

Visit website

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