Engineer - Energy

at  IQUW Group

ABOUT US

IQUW is a speciality (re)insurer at Lloyd’s (Syndicate 1856) underwriting a diverse range of Property, Commercial and Speciality (re)insurance products from Cargo and Marine to Political Violence, Terror and War. We combine data, intelligent automation and human expertise to make smart decisions, fast.

ESSENTIAL QUALIFICATIONS, SKILLS AND EXPERIENCE

The potential candidate should illustrate the following skills:

• Data analysis - Utilises newly developed ways of analysing data, is up to date on the value that technology can bring.
• Problem solving - Quickly identifies trends in complex engineering reports and information, understands the implications for the wider business and long-term considerations.
• Communication - Expectation to attend forums to speak, as well as the ability to produce risk assessment reports based on engineering risk information provided by clients and intermediaries.
• Ability to communicate at all levels from client CFO/Insurance Managers through to Engineers, Brokers and other Insurers.
• Either Insurance market experience through an Insurer, Broker, Loss Adjuster or Surveyor. Or industry experience in the engineering, oil and gas or energy sector.
• Strategic Thinking - Has expert knowledge of Energy engineering strategic issues affecting the industry and helps to set IQUW Group energy strategy in light of these.

THE ROLE

The role sits within the Marine, Aviation and Energy division of IQUW with a specific focus on Energy Upstream, Midstream and Renewables. The applicant should understand the nature of Energy operations and the associated risks, in addition to the management practices implemented to prevent, control and mitigate the risk exposures for energy business across the following sectors:

• Control of Well
• Exploration, development, distribution and construction phases for oil and gas
• Loss of Production Income
• Mobile Drilling Units
• Onshore and Offshore Upstream Property
• Pipelines
• Platforms
• Midstream assets
• Renewable energy sectors including carbon capture

KEY RESPONSIBILITIES

The role will sit within the Energy Underwriting team helping with risk selection, with a specific focus on the following:

• Understanding and articulating the risk and advising what necessary information we need to obtain to enable the appropriate evaluation of estimated/probable maximum losses (EML/PML) for the different coverages purchased.
• Make recommendations for risk improvement which could include changes to working practice through to asset modifications.
• Developing a risk engineering model to review and assist the underwriters with risk selection using first party and third party data.
• Conducting field assessments offshore and onshore.
• Report writing for individual accounts following a site visit or risk review, illustrating the potential negative risks affecting the assets.
• Reviewing third party engineering and assets reports to develop a risk view and understanding of the potential exposures. Providing an engineering risk assessment with any follow up actions.
• Reviewing offshore construction proposals to assess any risk areas to avoid or highlight due to, for example, unusual working practices.
• Maintaining up to date knowledge in the Energy field.
• Educating the underwriting team on developing engineering trends and technological updates in client working practice.
• Liaising with Claims during claims events as well as reviewing and helping to identify claims trends.
• Expectation to travel overseas for site visits and surveys, as well as attending updates and meetings with clients and risk engineers.
• The candidate will also be expected to join and attend the various market engineering groups created through Lloyd’s and market organisations. This would also extend to attending conferences with the possibility and expectation to speak at such events on behalf of IQUW.