Experience

Due to our position as consultants for the (re) insurance market and thus the confidentiality of our assignments, RISC doesn’t divulge the record of its clients in its web site but we are able to describe briefly some of our tasks performed since the start of RISC’s operation in December 2006:

  • Property Inspections: for sensitive risks like Wood Manufacturing, Mining Companies, Pharmaceutical Manufacturing, Power Plants, Container Ports and Beachfront Hotels. The reports include - if required - PML calculation, loss prevention recommendations as well as recommendations for the reinsurance placement.
  • Machinery Breakdown: Inspections / Survey for Thermo Power Plants including aero-derivative gas engines and hydropower turbines.
  • Evaluation of earthquake exposure: with focus on office buildings and shopping centres (including report and PML study) for American investors.
  • Independent Construction & Erection Site Reports: for reinsurance placement purposes and work-progress reporting in terms of the ALoP policy.
  • Toll Roads in Mexico and Latin America: Several risk analyses with PML-Study based on risk inspection. Reporting of cat-exposure in hurricane-prone areas. In case of a construction or erection stoppage, we evaluate the risk environment and the insurability of the project.
  • Hydropower Plants: Work-progress reporting for major construction projects in Latin America. Risk environment reporting for loss-affected risks. Industrial All Risk Surveys for the London R/I market.
  • Thermal Power Plants: EAR based inspections, project progress reports (ALoP), machinery breakdown reports, PML studies.
  • Combined Cycle Power Plants: Property risk surveys and submission reports for reinsurance placement.
  • Tunnel project inspections under the perspective of the Joint Code of Praxis for tunnel works (IMIA); individual consultancy for the insured.
  • PML studies for industrial risks with focus on earthquake and windstorm/flood, including a countrywide catastrophic exposure analysis for airports and ship terminals for a major insured.
  • Risk Study for a new Metro: risk description (construction and operation), exposure analysis and PML study.
  • Risk Study for complex Tunnelling Projects: (construction and operation), exposure analysis and PML calculation.
  • Risk Study for a Railway project: risk evaluation for a project to be carried out in a hurricane prone area, exposure analysis for specific risks and PML calculation.
  • Risk Study for Toll Roads: (construction and operation), exposure analysis and PML calculation.
  • Risk Study for Refinery: Exposure analysis for erection & construction only (no HAZOP).
  • Loss Settlement & Adjustment: supervising role in different cat losses of government risks after severe catastrophic events. Analysis of policy, R/I cover note, settlement by adjusters and recommendations for a technically sound claim adjustment.
  • CAR / EAR work progress reports: project advance reports in terms of the Advance Loss of Profit policy, with focus on big infrastructure projects in Latin America (highways, hydro power plants, thermo power plants, subways, container ports) and hotels in hurricane exposed areas.
  • Evaluation of Storage Conditions of equipment and construction material in case of construction / erection interruption.
  • Risk Accumulation Study for a major hotel chain with EQ and WS exposure. The assignment came from the client’s CFO.
  • Risk Submission for the reinsurance market of very complex infrastructure and jumbo industrial risks (Mining, Telecommunication, Power Generation). The risk presentation included an extensive risk description, nat cat exposure analysis according to the location, information about companies/entities/ institutions involved, a risk analysis and recommendations for the underwriter.
  • Seminar, Training & Presentations: Engineering/Energy, CECR, ALoP, individual seminars related to underwriting, inspections/surveys according to client’s needs.
  • TPL: Risk Analysis and PML Determination in respect of Third Party Liability during the transport of special equipment.
  • Arbitration & Mediation: assistance during controversies/ discussions between insurance company and insured or reinsurance company and cedent after a claim in form of mediation, arbitration or independent opinion including proposals of possible dispute solutions. Cases included cat-losses of up to 10 Million USD, Machinery breakdown losses of individual mechanical components, CAR losses in HPP Projects and CECR losses related to highways. In all the cases all the parties accepted our ruling.
  • Expert Opinion: in cases of controversy between parties, we receive appointments from one of the parties to render our opinion.
  • Engineering Underwriting: underwriting of small to medium-sized engineering policies on behalf of a MGA in Miami.

The principal of RISC, in some cases with the collaboration of seasoned inspectors and experienced professionals, performs all the assignments personally. In the case of external involvement, all activities are carried out under the strict supervision of RISC.