Risk Engineering vs Risk Management Timothy W Bibbs General Director - - PowerPoint PPT Presentation

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Risk Engineering vs Risk Management Timothy W Bibbs General Director - - PowerPoint PPT Presentation

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Risk Engineering vs Risk Management Timothy W Bibbs General Director Mensor Limited International Professional Forum Risk Management in Russia 17 -18 th September 2018 Sochi, Russia Contents Credentials Risk Management Risk

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SLIDE 1

Risk Engineering vs Risk Management

Timothy W Bibbs General Director – Mensor Limited

International Professional Forum Risk Management in Russia 17 -18th September 2018 Sochi, Russia

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SLIDE 2

Contents

  • Credentials
  • Risk Management
  • Risk Engineering
  • Synergy

 Estimated Maximum Losses  Recommendations  Ratings

  • Case Study
  • Conclusion
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SLIDE 3

Credentials

Timothy Bibbs

  • 37 years Engineering Experience
  • 27 years in Russia
  • 19 years in Risk Engineering
  • One of first in Russia
  • Surveys in all industries
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SLIDE 4

Credentials

Mensor

  • Established in September 2011
  • Former Soviet Union
  • All industries
  • Russian/British engineers
  • Independent
  • International Quality Reports
  • Respected Reputation
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SLIDE 5

Risk Management

  • Assessment of Risks

 Severity  Frequency

  • Strategy

 Reduce Risk  Minimise Impact  Insurance

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Risk Engineering

  • For Insurance Purposes
  • Technical Assessment of Risks
  • Comparative Rating of Risk

 All Aspects

  • Estimated Maximum Losses

 Magnitude not Frequency  Physical Damage  Business Interruption

  • Risk Reduction Recommendations
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SLIDE 7

Synergies

Estimated Maximum Losses

  • Identify Scenarios
  • Estimate Impact

 Physical Damage  Business Interruption

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SLIDE 8

Synergies

Recommendations

  • Purpose

 Reduce Risk  Reduce Impact

  • Basis

 International Best Practice  Previous Worldwide Losses  Not Conformance with Regulations

Synergies

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SLIDE 9

Synergies

Ratings

  • International Basis
  • Overall
  • All Aspects

 Process  Protection  Organisation  All Risks  Loss History

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SLIDE 10

Case Study

  • Pumping Intermediate Product between Plants
  • Freezing & Fire: Major Impact
  • Actions

 Circulation  Improve Fire Protection

  • Business Continuity Plan

 Establish New Pump House  Process Feed in Alternative Plant

  • Result

 Reduced Risk & Impact  Reduced EML

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SLIDE 11

Conclusion Risk Engineering Risk Management Reduced Risk Better Insurance Outcomes

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MENSOR

The Surveyor

Building 1, 28 Novoryazanskaya Street, Moscow Telephone: +7 (926) 095-32-31 E-mail: info@mensor.pro

  • www. mensor.pro

Thank you for your attention