Our Services
The services to be provided:
ENERGY PRACTICE
Mike Peachey llp provides a cost effective resource for the provision of risk management and insurance advice to business units, subsidiary companies and joint venture companies, including:
- Independent assessment of insurance needs
- Outsourced Services include -
- Advice on construction and operating insurance
- Management/facilitation of independent tender process and evaluation
- Client representation with brokers, insurers, JV partners
- Establishing claims procedures
- Insurance programme reviews include -
- Benchmarking industry coverage/practice
- Analysis of coverage
- Casualty simulation
CLAIMS
A 'cradle to grave' claims management for large or complex claims. Services provided would typically include -
- Identification of the major coverage issues
- Agreeing the scope of cover with loss adjusters and insurers as it relates to the losses
- Advising on the creation of efficient systems to assist in the processing of claims
- Coordination of the flow of information to loss adjusters and insurers
- Total claims management solutions incorporating:
- Document collection and accounting procedures to collate costs
- Organisation of presentations to loss adjusters and insurers
- Negotiating the agreement of interim payments, managing the flow of funds from insurers
DUE DILIGENCE
Analysis and implementation of insurance requirements to lenders to borrowers on non-recourse and limited recourse financings, mergers and acquisitions including oil and gas, petrochemical and power projects:
- Reporting on the nature of insurable risks
- Identifying differences in risk assumption between the parties
- Advising on the extent to which exposures can be met by insurance products
- Review and benchmarking of insurance cover terms, limits and deductibles
- Review of security, access to insurance proceeds and assignment issues
- Reinsurance Strategies:
- Incorporating national markets and captive insurers
- Incorporation of clauses for lenders' protection, notably reinsurance assignments and non-vitiation coverage
RISK SOLUTIONS
In a business environment where clients are increasingly aware of risk issues and the need for effective risk management, Mike Peachey llp embraces a suite of relevant services, including the management of implementation of the following processes:
- Risk Assessment
- The identification and quantification of risks
- Mapping and analysis techniques
- Risk Retention
- Captive and Rent-a-captive feasibility
- Industry mutual feasibility, review, audit and management
- Uninsured loss and deductible management programmes
- Risk Transfer
- Contractual terms
- Insurance products
- Spread finance and capital market solutions
- Risk Management Information Systems
OVERVIEW OF KEY BUSINESS RISKS
We consider it would be inappropriate for us to advise other organisations about risk, without having first considered those applying to our own business. As with any business, there are a number of risks present that need to be identified and where possible, managed either by mitigation or transfer of risk. For our risk consultancy the key risks identified are as follows (not necessarily) in order of significance.
- Failure to maintain and develop client base
- Reputational risk
- Long term illness of key personnel
- Bad debts
- Over trading
- Currency risk
- Loss of records
- Computer crime
- Compliance
- Contractual liability
- Management decision making
- Downturn in clients' own businesses
- Competition
- Business continuity
All of these risks are recognised and managed as far as is reasonable within the confines of a small business.