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Definition:
It is when travelling across a number of time zones, the body clock will be out of
synchronization with the destination time. Hence, the Body's natural pattern is upset
and will need to adjust to the new environment.
In Insurance Terms:
It is when you go abroad into a new venture or project and expect to have the same
terms and condition you had in home environment.
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An Outline
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Facts
Economic Growth
Industrial Growth
Ability to Spend
Over $US 50 Bn of M&A deals during 2012 by Asian NOCs
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Petroleum Demand
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Overseas Production
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Contribution of Companies
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Most Diverse
Insurance
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Challenges of Clients
Regulations
Different Requirements
Project delays
Product Export Issues
Environmental Challenges
Logistics
HSE Regulations and Procedures
International Bodies
Human Resources
Political Risk and Instability
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Mitigation
Early Assessment
Calculating the risk during the project cycle
Comparing Regulations Vs Risk at hand
How much of the Risk can be carried?
Timing
Budgeting
Direct Project Costs
Indirect Costs (Often Insurance is taken part of that- Wrong!!)
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Adding Value
Advisory
Project Finance
Different Stage Involvement
Preparation for the market
Servicing Client Abroad
Finding the right partner
One Stop Shop
Communicating with Local Community
Insurance Pricing & Cover
Finding the right security
Obtaining Follow Market
Building of Internal expertise
Quoting and Leading Business
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Conclusion
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Any Questions ??
Thank you
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