Project risk is unique in that risk profiles are constantly changing as the project moves from an idea, through planning and design and contracting, then through logistics, construction, testing and commissioning and finally into commercial operations.
Having a clear understanding as to the differing risks and how these may be mitigated is crucial for the successful realisation of any project.
Our specialist team has extensive experience of the Oil, Gas, Petrochemical, Power & Mining sectors throughout the world and support projects by:
- Working with all parts of the project (technical, legal and financial) to both assess the project’s specific risk profile and to assist in finding ways to minimise these risks
- Interacting with Project Management, Project Management Consultants, Contractors, Owners’ & Lenders’ Lawyers, Finance Teams / Lenders and the insurance industry so that the project achieves an appropriately balanced risk profile which is acceptable to the project parties
- Reviewing contractual indemnity and insurance provisions / allocations
- Collecting technical project data followed by developing and producing a detailed technical presentation supported by significant back up documentation for presentation to underwriters and lenders
- Explaining to lenders’ insurance advisers / lenders the project’s overall risk management and insurance philosophy and obtaining their agreement to this