Offshore Energy Insurance Risk Engineer

Chubb; London; Hybrid; GBP 60,000 - 100,000

Job description

Job Description

We have a new opportunity for an Offshore Energy Insurance Risk Engineer to provide professional engineering advice to our Energy underwriting team with the aim of improving underwriting profitability and assisting in portfolio development and new business opportunities. This role will have a global reach and is London based.

The main function of the job is to carry out risk assessments of underwriting submissions and undertake risk / loss prevention surveys of Upstream Energy risks. In addition, the successful candidate is also expected to support the wider Energy Engineering team including Renewables and Downstream risks as experience allows.

Chubb Global Energy provides insurance coverage for upstream, renewables and downstream energy operations. Risk prevention and loss control risk surveys are an essential component of the services provided to Chubb Global Energy clients which include oil majors, national oil companies and independents, and increasingly companies operating in the renewables sector. Chubb is a significant player in the global energy insurance market and counts several oil majors and many national oil and gas companies amongst its' clients. The Offshore Energy Insurance Risk Engineer will be part of the CGM Risk Engineering Team.

Key Responsibilities

1. To support the Upstream and Offshore Renewable Energy underwriters providing technical input to risks. The focus of the position will be on risk appetite - pre-bind peer review process with the Underwriter based on risk fundamentals, evaluating reports provided by brokers and other third parties and completing engineering reviews.
2. Risk surveys of both Upstream and Offshore Renewables Construction risks and Upstream (Oil and Gas) and Renewables Operations. Deliverables will include input to the broker's report and risk improvement recommendations that will assist the client in reducing risk.
3. Reviewing and agreeing Scopes of Work for third party consultants as needed, including MWS Companies and Well Plan Review Consultants.
4. Continual learning through a thirst for knowledge to support the engineering team's understanding of new and existing technologies. Recent examples of this include developing a deep understanding of carbon capture technologies, renewable hydrogen production facilities and geothermal projects. This role provides opportunities to broaden beyond traditional oil and gas activities.
5. Support the wider Energy Engineering team in other occupancies as experience allows.

Specific Tasks

1. Carry out desk top reviews of Energy underwriting submissions including calculation of EML (estimated maximum loss) assessments, and attritional loss estimates.
2. Support the underwriter in discussions with the client, broker and broker's risk engineers.
3. Conduct risk surveys of Energy risks including offshore (BOSIET, WINDAR training and the offshore medical will be arranged by Chubb).
4. Compile risk survey reports as required.
5. To provide technical input to the claims department.
6. Develop training presentations for Energy peer group engineers and underwriters.

Qualifications

1. A minimum of 10 years experience across a range of key offshore engineering activities (as set out below):
2. Offshore Construction Projects -
   • Upstream (Oil and Gas)
   • and / or Renewables
3. Offshore Operations -
   • Upstream (Oil and Gas)
   • and/or Renewables
4. Knowledge of Offshore (and onshore) well risks both in the drilling and operational phases. Good working knowledge of control of well risks and appropriate risk mitigation measures.
5. Knowledge of Marine Transit and Installation risks (exposures and mitigation) as they apply to offshore construction risks.
6. Knowledge of the Energy Insurance industry would also be an advantage, but is not essential.
7. Relevant Engineering degree preferred eg BSc /BEng Chemical Engineering, BSc/ BEng Mechanical Engineering etc.
8. Chartered status (C.Eng.) of a recognised engineering institution preferred eg MIMechE, MIChemE, MIStructE, MICE or similar.
9. Clear and confident communicator with the ability to convey technical information to non-technical audiences. The successful candidate will be expected to act as a mentor to other members of the wider Energy team and respond flexibly to requests for engineering support.

Travel Requirements

Travel will be expected on a global basis to survey risks underwritten by Chubb Global Energy. Expected time away on surveys will be up to 60 days per annum (to be agreed). Risk surveys could involve travel for up to 2 weeks at a time (on occasion) although most risk surveys will be of 3 to 5 days duration.

Office Location

The job will be domiciled in the London office. Hybrid working with typically 3 days in the office per week.

WE OFFER IN RETURN

Competitive salary, annual bonus & pension scheme, 25 days annual leave plus ability to purchase 5 additional days. Private Medical cover, Employee Share Purchase Plan, Life Assurance, Subsidised gym membership, Employee resource groups, 1 day annual Charitable leave, Cycle to work scheme, Employee Assistance program.

INTEGRITY. CLIENT FOCUS. RESPECT. EXCELLENCE. TEAMWORK

Our core values dictate how we live and work. We're an ethical and honest company that's wholly committed to its clients. A business that's engaged in mutual trust and respect for its employees and partners. A place where colleagues perform at the highest levels. And a working environment that's collaborative and supportive.

Diversity & Inclusion

At Chubb, we consider our people our chief competitive advantage and as such we treat colleagues, candidates, clients, and business partners with equality, fairness and respect, regardless of their age, disability, race, religion or belief, gender, sexual orientation, marital status or family circumstances.

We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment. Please contact us to request accommodation.

About Us

Chubb is a world leader in insurance. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. The company is distinguished by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength, underwriting excellence, superior claims handling expertise and local operations globally.