An Interactive 10-Day Training Course
Energy Insurance and Risk Management
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Modules
This training course is split into two modules:
Module I - Understanding Energy Insurance
Module II - Energy Risk Management
Each module is structured and can be taken as a stand-alone training course; however, delegates will maximise their benefits by taking Module 1 and 2 back-to-back as a 2-week training course.
Training Outline
Module 1: 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 2: 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
- On 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 Sponsor, one CPE credit is granted per 50 minutes of attendance
Accreditation
GLOMACS is registered with NASBA as a sponsor of Continuing Professional Education (CPE) on the National Registry of CPE Sponsors. NASBA have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org.
All Training Seminars delivered by GLOMACS by default are eligible for CPE Credit.
Providers and Associations
About Saudi Glomacs
At Saudi GLOMACS, we specialize in delivering world-class training courses in Saudi Arabia and across various international locations. Our training courses are tailored to meet the unique demands of Saudi Vision 2030 and the Human Capability Development Program, focusing on empowering Saudi citizens and enhancing workforce skills. We offer diverse courses spanning leadership, management, engineering, and technical disciplines to cultivate expertise and drive professional growth. Our flexible learning options—whether in-person, online, or in-house—ensure accessibility and convenience for individuals and organizations alike.
With over 30+ years of experience through the GLOMACS global network, we are committed to delivering innovative, results-driven training solutions. Our expert instructors combine industry knowledge with dynamic teaching methods, fostering practical skill development and long-term career success. By choosing Saudi GLOMACS, you're investing in personal excellence and contributing to the Kingdom’s sustainable economic growth and vision-driven transformation.
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