Risk transfer products are priced to reflect both estimated risk (calculated according to some model) and model risk (how accurate and appropriate is the risk model itself). As a rule, you always pay for uncertainty; reducing model risk will go towards ensuring that you get the best possible quotes, based on the true underlying risk.
“We can answer such questions as 'What is the value of risk transfer to you?', 'How does this compare with the market cost of a specific contract?' and 'How much insurance or hedging is optimum?'”
We can provide an independent perspective to the valuation, transfer and mitigation of all types of risk:
According to The Decommissioning Company, operators in Europe are forecast to spend over £60 billion on decommissioning over the next 30 years.
Is Competition law having a chilling effect on the Oil and Gas Authority’s (OGA) call to 'Maximise Economic Recovery' from the UK North Sea? The UK’s new OGA has a primary responsibility to implement the recommendations of a report by Sir Ian Wood.
Applying actuarial techniques to help clients build brand value and customer loyalty.
April was unusually interesting for the UK Oil and Gas industry. Shell announced success in their bid to acquire BG Group and UKOG announced ‘discovery’ of reserves of 158 million barrels of oil per square mile at Horse Hill.
Implementing a stress testing and scenario analysis framework in order to identify and analyse current and potential issues that were of market-wide concern.
We are pleased to announce the appointment of risk management specialist, Marc Spurling, to our growing Business Risk consultancy. Marc’s legal experience will provide client specific risk management advice across multiple industry sectors.
Barnett Waddingham is pleased to announce the appointment of Scott Cameron as an associate to its newly launched business risk practice.
Ground-breaking new services will use the principles of actuarial science that are a key part of our existing insurance and pensions business, and apply them to the modelling and analysis undertaken by companies in the oil and gas exploration industry.