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Independent insurance and risk advice to the energy industry

Specialist in: Oil, Gas & Power related industries

Expert Witness

Insurance:

Energy, oil and gas (onshore and offshore), petrochemical

Subject of Dispute:

Benchmarking scope of cover, claims practice and insurance and indemnity provisions in contracts

EXPERIENCE AS AN EXPERT

Testified to arbitration tribunal in Rotterdam related to contractual dispute between terminal and customer.

Assessment of value of claims under offshore construction insurance for Court proceedings in London.

Opinion as to application of removal of debris provision under a marine cargo insurance to oil spill in Alaska.

Benchmarking offshore oil and gas insurance limits to resolve dispute between Indian Government entity and US partner.

Provided expert's reports to claimant's counsel in Venezuela under operator's extra expense insurance.

Provided expert's reports to Canadian Government regarding offshore insurance.

Provided expert's report to Abu Dhabi Government regarding terrorist risk insurance.

CREDENTIALS

I am an independent insurance adviser that does not transact insurance and has no financial interest in any other business.

I frequently advise on insurance programmes, either to the asset owner or to other interested parties, such as financiers, purchasers or Government entities.

My career in the insurance market began in 1971, and my first significant management appointment was in 1982, aged 28, when working for the Jardine, Matheson Group of Companies. I was sent to Southampton to revive a loss-making underwriting operation and to set-up a new general branch office. I stayed for 3 years, then spent 3 years as a senior manager in Continental Group's marine offices in London, following their purchase of Jardine Matheson's underwriting operations, before joining INDECS, in its original incarnation in 1989.

In 1990, I was one of a four man buy-out team of the INDECS business from British & Commonwealth and was appointed Chairman and Chief Executive Officer when INDECS was sold to Charles Taylor Consulting plc (CTC) in 1998. I developed the risk management consultancy operations under the trading name of Taylor Risk Consulting.

As a main Board Director of CTC, I was responsible for the risk management consultancy operations of the Group, including marine consulting and captive insurance company management.

I took my team out of CTC when CTC's loss adjusting operations had grown to such an extent that I did not consider it possible to continue giving independent advice to insurance buyers, within the context of a group of companies working predominantly for insurers. The risk management business team and virtually all existing cases moved to the new INDECS operation effective 1 July 2004. I left INDECS in October 2006 to concentrate on providing specialist advice to clients.

I regularly work on management consultancy projects, reviewing the remit and scope of operations for the risk management function in organisations, as well as carrying out programme reviews, management and evaluation of insurance tenders, assisting in the international insurance-buying of corporations worldwide, due diligence in mergers and acquisitions, or on bank financed projects and assistance in the management of insurance claims, across a wide range of industries.

I have been involved in negotiations with several National insurance Markets in connection with the placement of major insurance and reinsurance programmes. Those negotiations concerned issues such as effective access to internationally rated security and coverage to acceptable international standards.

My experience has been primarily in the marine, power and oil and gas/petrochemical sectors, including upstream and downstream projects of all tiers. My assignments include:

Industry benchmarking exercises, covering price, scope of coverage, limits and deductibles for a number of major companies.

Advising on and coordinating the placement of insurance programmes, contract drafting and reviews, and claims management programmes.

Active involvement in the management of oil, gas and petrochemical company insurance and risk management departments, as an out-sourced risk manager.

Taking part in organisations' corporate governance reviews, including analysis of the efficiency of their insurance programmes.

Management of significant claims of all types, including property damage and resultant business interruption.

Here are some examples from the past 3 years:

I have also advised the following banks on various energy industry construction projects:

• ANZ Investment Bank
• Asian Development Bank
• Bank of America
• Barclays Capital
• BNP Paribas
• Calyon
• Chase Manhattan
• Credit Suisse First Boston
• Deutsche Bank
• Export Development Corporation
• Goldman Sachs
• International Finance Corporation
• Morgan Stanley
• Royal Bank of Canada

Energy Practice

We provide independent insurance and risk management advice and an outsourced insurance management function to energy companies

Claims

We have a 'cradle to grave' claims management service for large or complex claims

Due Diligence

We offer analysis and implementation of insurance requirements in large transactions

Risk Solutions

We analyse and solve risk retention and risk transfer issues

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