Scheduled Dates
| Date | Venue | Fees | |
|---|---|---|---|
| 28 Sep - 09 Oct 2026 | Dubai - UAE | $ 11,900 | |
| 03 - 14 May 2027 | London - UK | $ 11,900 | |
| 27 Sep - 08 Oct 2027 | Dubai - UAE | $ 11,900 |
Modules
This training course is split into the following modules:
Module I - Understanding Energy Insurance
Module II - Energy Risk Management
Course Outline
Module I: Understanding Energy Insurance
Day 1
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
Day 2
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
Day 3
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?
Day 4
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
Day 5
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 II: Energy Risk Management
Day 6
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
Day 7
Risk Management Categories
- Financial risks
- Market risk
- Credit & counter-party risk
- Liquidity risk
- Limit management
- Operational risks
- Systemic risks
- Emerging risks
- Strategic risks
Day 8
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
Day 9
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
Certificates
- Upon successful completion of this training course, GLOMACS Certificate will be awarded to the delegates. Continuing Professional Education credits (CPE): In accordance with the standards of the National Registry of CPE Sponsors, one CPE credit is granted per 50 minutes of attendance
Providers and Associations
