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

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 Engineering  Synergy  Estimated Maximum Losses  Recommendations  Ratings  Case Study  Conclusion

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

Credentials Mensor  Established in September 2011  Former Soviet Union  All industries  Russian/British engineers  Independent  International Quality Reports  Respected Reputation

Risk Management  Assessment of Risks  Severity  Frequency  Strategy  Reduce Risk  Minimise Impact  Insurance

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

Synergies Estimated Maximum Losses  Identify Scenarios  Estimate Impact  Physical Damage  Business Interruption

Synergies Synergies Recommendations  Purpose  Reduce Risk  Reduce Impact  Basis  International Best Practice  Previous Worldwide Losses  Not Conformance with Regulations

Synergies Ratings  International Basis  Overall  All Aspects  Process  Protection  Organisation  All Risks  Loss History

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

Conclusion Risk Engineering Risk Management Reduced Risk Better Insurance Outcomes

Thank you for your attention MENSOR The Surveyor Building 1, 28 Novoryazanskaya Street, Moscow Telephone: +7 (926) 095-32-31 E-mail : info@mensor.pro www. mensor.pro