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Meanwhile, a shortage of skilled labour and risk of subcontractor default are concerns, adding more uncertainty to the mix. Marsh helps you assess risks and opportunities and uncover ways to use working capital more efficiently. The planning and implementation of an effective risk management strategy is dependent on a flow of information. In the energy and power industries this is often highly technical and frequently impenetrable to anyone other than an engineer.
Each member of the team is a qualified engineer, with practical experience in design, construction, operation, and maintenance across a broad range of oil, gas, petrochemical, and power generation risks. They have all been trained in advanced insurance skills, in the ability to assess and analyse risk, and to communicate effectively and frequently in more than one language.
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The goal is to build bridges between risk engineering, insurance, and risk management, and between you and the underwriter. The team is also able to provide benchmarking information that enables a global opinion of the risk assessed against peer plants worldwide. The energy and power industries are highly complex, and sourcing expert market capacity with broad coverage and competitive pricing can be particularly difficult.
Our commitment to delivering the best outcomes for you, combined with our powerful market presence, has led to us to design placement facilities that offer you a range of risk placement benefits and efficiencies that, we believe, are unmatched in the current market. We're sorry but your browser is not supported by Marsh.
Our market-leading suite of benchmarking tools and analytics include: Premium benchmarking. Policy type benchmarking. Peer group benchmarking. Loss scenario testing. Claims review.
Acquisitions stress test. Construction While the construction industry has rebounded from the financial crisis, margins have generally remained tight. The needs of the various professional leagues are different and ever-evolving. As designs change to expand the size or make the stadium more intimate, the designer must also carefully consider the site lines for all areas, but particularly in high-end luxury areas such as suites and clubs.
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Other unique design challenges involve the sheer concentration of public exposure — meaning 70, people concentrated inside a single building. Safe and effective ingress and egress are critical considerations when designing these venues.
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Another design-related risk for owners of stadiums is ADA compliance — considerations here are different than other commercial venues. Most new stadiums involve features such as retractable moving roofs, walls, and playing fields.
The new Las Vegas Stadium has a grass playing field that will move outside the building to get some sun and then back inside for NFL games. The playing field in general is an area that is unique to stadiums, including considerations related to turf specifications, irrigation and drainage systems, and in-ground heating systems for outdoor stadiums. The massive size of stadiums requires unique large-span structural systems for the roof, and the weight of the steel structure requires the use of highly specialized construction equipment to erect.
Retractable roofs sometimes add additional challenges to the erection process. For example, the largest crawler crane ever built in the country was used at Mercedes Benz Stadium in Atlanta and has now been moved to Arlington, TX to support installing the retractable roof at Globe Life Field.
The massive stadium roofs must also be designed and built to allow proper water drainage, prevent snow accumulation, and allow for maintenance when necessary. The scope of a stadium project typically involves infrastructure work that may or may not be the responsibility of the stadium owner and its project team. These components sometimes involve streets, pedestrian bridges, public plazas, green spaces, and renewable components. Many stadiums also involve overseas procurement of critical path materials, including specialized technology, structural steel, ETFE, etc.
Time critical construction schedules are unique risks for stadiums because a two-to-three-month construction delay could result in the loss of an entire season in the new stadium. Interestingly, these enormous structures are often being built in only 30 months, so schedules are relatively tight. The availability of an alternative venue to play is an important consideration, but this only partially mitigates the potential financial loss.
In just these last few years use of ETFE has gone from rare to common as we look at the recently construction stadiums. Similarly, stadium construction involves difficult risk management decisions related to fire protection, beyond compliance with fire codes, due to the wide variety of ceiling heights, open spaces, and public vs.
AN EVENT FOR EUROPEAN RISK AND INSURANCE MANAGERS
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