Insurance Services

Detailed Damage Assessments

Our technical experts can perform detailed assessments to establish the extent of damage using heat mapping, metallurgical analysis, and other non-destructive testing techniques. We understand that the construction industry can be fraught with unforeseen challenges. Damage to structures, whether due to natural disasters, accidents, or wear and tear, can lead to significant setbacks and financial losses. That’s why we offer specialised damage assessment services to ensure that your construction projects stay on track, even in the face of unexpected issues. Our damage assessment services are designed to identify and measure the impact of physical damage to determine precisely what needs to be repaired and/or replaced. Experts will visit sites, review project documentation, and liaise with the project team to establish material and resource costs, a procurement strategy, and how to achieve physical reinstatement.

What is Damage Assessment in Construction?

Damage assessment refers to the process of evaluating and documenting the extent of harm or deterioration to a building or structure. Damage assessment is typically conducted after events like natural catastrophes, accidents, or structural issues. It involves thoroughly inspecting the damage, determining its severity, and establishing the scope of repairs or reconstruction. The results of a damage assessment are crucial for insurance claims, safety considerations, and planning the necessary remediation or restoration work. Together with our Scope Evaluation service, our Damage assessment reports assist in determining the potential exposure to reinstatement costs and business interruption following loss events.

Our Expertise

Comprehensive Inspection and Assessment

Our team of experienced consultants is well-equipped to assess damage in various construction environments. From commercial buildings to industrial facilities, residential structures, and infrastructure projects, we provide a wide range of services tailored to meet your specific needs.

Timely and Accurate Reporting

Together with Rimkus’ scope evaluation service, our damage assessment reports facilitate loss adjusters, insurers and policyholders in understanding the scope and likely reinstatement costs of a loss event. By applying policy terms to a ground up estimate that considers sub-limits and exclusions, we provide a stable scenario for reserving purposes, whether that is initial placeholders for incurred but not reported (IBNR) claims or case reserves in a 45-, 90-, or 180-day window. Our damage assessment reports enable a loss to be assessed transparently and for policyholders to receive an enhanced claims experience.

Innovative Technology

Rimkus uses state-of-the-art technology, including drones and specialised inspection equipment, to gather high-resolution images and data. This allows us to perform thorough damage assessments and ensures the safety of our personnel while examining hard-to-reach or hazardous areas.

Safety and Compliance

Safety is our top priority. Our team follows industry best practices and complies with all safety regulations. We are dedicated to minimising risks during damage assessments and ensuring the well-being of all personnel involved.

Damage Assessment Services

Structural Damage Assessment

Our experts thoroughly examine buildings, bridges, and other structures to determine the extent of damage, the causes, and potential risks. This assessment is crucial for making informed decisions about repair or replacement.

Natural Disaster Damage Assessment

When natural disasters strike, our team is ready to assess the impact and damage to your construction project. Whether it’s an earthquake, flood, hurricane, fire, or any other natural event, we’ll provide a comprehensive evaluation.

Forensic Engineering

In cases of accidents or unexpected geological, electrical, mechanical, or structural failures, our forensic engineering services can be called upon. We investigate the root causes and provide expert analysis for insurance claims or litigation support.

Safety Assessment

Safety is paramount in construction. We evaluate the safety conditions of your construction sites, identify potential hazards, and suggest measures to mitigate risks and ensure compliance with industry standards.

Environmental Damage Assessment

We also assess damage caused by environmental factors, such as water intrusion, corrosion, and chemical exposure, to recommend the best methods for remediation and prevention.

Scope Evaluation Service

In the immediate aftermath of a catastrophic event, Rimkus’ scope evaluation service offers considerable benefit to insurers, loss adjusters, and policyholders in response to large and complex claims. In the days after a loss occurs, Rimkus’ accredited estimators and cost engineers will generate initial rough orders of magnitude, developing through to more detailed estimates as the scope of damage evolves, and contractor tender documentation is received. We use industry recognised estimating software, commonly utilized by major operators/owners. In the right hands, this software develops estimates to support conceptual design analysis, detailed FEED studies, pre-tender CAPEX approval/budgeting, and bid/tender benchmarking across an array of assets.

What is Scope Evaluation?

Scope evaluation offers a ‘ground-up’ estimate of the reinstatement cost, allowing loss adjusters and insurers to examine relevant policy terms. This involves identifying specific elements of reinstatement for considering the application of sub-limits, exclusions, and so on. It provides a more stable and consistent scenario for reserving purposes, whether that involves initial placeholders for precautionary Incurred But Not Reported (IBNR) or case reserves within a 45, 90, or 180-day window.

For many catastrophic events, a fully developed operational design will exist, along with information such as detailed equipment lists and operational parameters. In fact, most of the material contained within a detailed underwriting submission is all that is needed for Rimkus’ estimators to immediately start developing an early cost estimate, alongside considerations for demolition/removal or wreck, allowing the process to be significantly fast-tracked.

Our Expertise

Our team of experienced professionals is well-versed in construction management, engineering, and project development. They bring a wealth of knowledge and skills to the table, allowing them to effectively estimate, evaluate, and verify project scopes across various construction sectors, including:

• Upstream and Downstream Energy
• Commercial
• Industrial
• Power
• Renewable
• Infrastructure

Our dedicated consultants specialize in brownfield and greenfield estimating on CAPEX (Capital Expenditure), OPEX (Operational Expenditure) and ABEX (Abandonment Expenditure) projects.

Forensic Timeline Delay Analysis

Our forensic timeline delay analysis is internationally recognised for prompt and efficient delivery of clarity to delay in start-up (DSU) and business interruption (BI) claims of the highest value and complexity.

At Rimkus, we understand that time is money where DSU and BI are concerned. That’s why we offer specialized delay analysis developed specifically for global insurance markets to help insurers and policyholders effectively manage, assess, and mitigate project delays. Our professional consultants recognise that DSU and BI claims must proceed harmoniously with projects’ or policyholders’ existing construction management procedures.

Understanding Delay Analysis in Construction

What is delay analysis in insurance?

Delay analysis in the context of a DSU claim is the process of initially identifying the exposure to delay resulting from insurable events and assessing the potential to mitigate this exposure before ultimately establishing the date that a project would have achieved commercial operation had the insurable incidents not occurred. Under the context of a BI claim, the timeline analysis process will concentrate on initially identifying mitigation strategies to minimize the interruption period and ultimately establishing the interruption period as a direct consequence of an insurable event.

Why is schedule analysis on DSU and BI claims important?

Delay, timeline, or schedule analysis is crucial for managing schedules, controlling costs, mitigating risks, avoiding disputes, and enhancing the overall claims experience. Insurance policies are different to construction contracts and the techniques, approaches, and experience required to successfully review delay under the context of a DSU or BI claim distinctly differs to that traditionally available.

Our Delay Analysis Services

Our specialized delay analysis services for DSU and BI claims provide a comprehensive range of solutions designed to identify, analyze, and bring clarity to the complexities of time-element issues in insurance. For the past 25 years, Rimkus has uniquely developed these services exclusively for global insurance markets and are unrivaled in this endeavor.

Delay in Start-Up (DSU)

The Rimkus team has advised on more than 500 DSU claims on projects all over the world. Our highly trained experts can clarify DSU matters by examining a project’s critical path, identifying the likely benefit of any mitigation strategies, and determining when commercial operations would have commenced had no insured events occurred. Many clients use our services in advance of a submitted DSU claim to establish accurate decision-making for loss mitigation, formulate potential exposure considerations, and create the foundations for a successful resolution. Our expert DSU and BI delay analysis includes advice on:

• Pre-incident project status
• Consideration of mitigation measures and Increased Cost of Working (ICOW) claims
• Verification of critical path and near critical work packages
• Impact of float and concurrent delays
• Policy endorsements
• Relationship between Construction All Risks (CAR), Erection All Risks (EAR), and marine cargo policy forms
• Potential implications of defect exclusions and London Engineering Group (LEG) clauses

Business Interruption (BI)

Rimkus has delivered timeline services on many of the world’s largest BI losses across numerous industries. Time element claims are our expertise. Our time, cost, and technical experts have comprehensive knowledge spanning all types of industries and provide the support and insight to expedite any reinstatement project. This reduces the risk of extended interruption or business downtime, limiting business interruption exposures. Scheduling specialists objectively identify the reinstatement/repair scope, planned turnaround/maintenance works, and any opportunistic upgrade or betterment works. We confirm to policyholders the most cost-effective ways to minimize BI exposure and ensure transparency for all parties. Our years of experience supporting global insurance markets has taught us that time management services work best when integrated with cost and technical expertise to fully leverage mitigation strategies. This approach can take advantage of the links between these disciplines, resulting in accurate and agile decision making on technical engineering solutions, cost breakdowns, and time management.

Minimizing Adverse Impacts

Rimkus offers efficient and timely advice on risks across multiple industries via independent, third-party expert reviews. We are uniquely placed to support our clients across all phases of an insurable risk. The integration of our time, cost, and technical specialists allows us to offer services of increasing complexity in risk mitigation, acting as our clients trusted expert advisor.

Given the intricacies of risk management in construction, a commensurate knowledge of the technology, modern construction operations, project schedules, and cost impacts are required to mitigate risk. At Rimkus, our expert consultants are professionally trained to partner with our clients across all phases of the engagement to provide expert, specific, and evidence-based advice.

What is Risk Management in Construction?

Risk management in construction is a methodical approach to identifying, assessing, and addressing potential uncertainties and hazards on a project. Given the complexity of construction projects surrounding factors like weather, labor, materials, and unforeseen site conditions, the aim is to minimize the impact of these variables on project cost, schedule, and success. We work with clients to analyze risks and develop strategies to avoid, transfer, mitigate, or accept them, and implement response plans. Effective risk management in construction enhances predictability, reduces uncertainties, and increases the likelihood of project success.

Our Risk Management Services

We offer a range of risk management in construction services that can assist all phases of a client’s engagement with a risk. This spans from the initial risk submission through final placement. Our construction risk management services are listed below:

Marine Warranty Surveyor Scope Review

Our marine warranty surveyor services involve a meticulous examination of project plans and scopes against JNRC 2023-029. This includes assessing the feasibility of proposed methodologies, analyzing potential risks associated with marine activities, and providing recommendations to enhance safety and ensure compliance with the relevant regulations.

Desktop Study

We undertake an analysis of project documentation and relevant data without the need for on-site visits. This includes a thorough expert review of key documentation describing the critical aspects of a construction risk. Ultimately, we help clients identify potential challenges early in the project life cycle, enabling informed decision-making and risk mitigation strategies.

Risk Rating

Through a robust risk rating process, Rimkus assists clients in understanding the magnitude and nature of risks associated with their projects, facilitating the development of targeted risk management strategies. As part of this risk management in construction service we perform an assessment of the risk presented against criteria derived from the DNV GL RP N-101 guidance.

Constructability Review

We assess the feasibility and practicality of construction plans and designs with our constructability review. By scrutinizing project documentation and identifying potential technical risks early in the planning phase, our team of expert consultants help clients optimize project execution, minimize costly revisions, and enhance the overall project efficiency.

Estimated Maximum Loss (EML) Analysis

Rimkus can conduct an EML analysis to calculate the potential financial impact of various risks on a construction project. This risk management service involves identifying and assessing key risk factors, estimating the maximum financial loss that could result from these risks, and providing clients with valuable insights to understand potential exposures from a plausible range of risk scenarios.

Construction Underwriting Report

A combination of all the preceding services, this service provides a full desktop study of critical project documentation, indicates risk ratings for technical, environmental, and schedule exposures; and produces a comprehensive EML analysis. We support underwriters in making well-informed decisions regarding risk management in construction projects.

Analyzing Failures with Our Forensic and Consulting Engineering Services

Before deciding what course of action to take when a project goes wrong, it is essential to understand how and why a failure has occurred. Rimkus provides forensic and consulting engineering services to help clients answer these questions and plan a response.

Our consultants understand the critical importance of maintaining structural integrity and safety within the construction industry. Unforeseen failures can not only lead to significant financial losses but also compromise the safety of individuals and the overall success of a construction project. Our consulting engineering services are designed to identify, analyse, and rectify potential failures in construction projects, ensuring optimal performance and longevity.

Our failure analysis services in the construction industry range from forensic root cause investigations to detailed assessments of design failures, workmanship issues, or latent defects. We are specialists in establishing what happened and why, working closely with clients to determine causation and identify potential targets for subrogation.

What is Failure Analysis in Construction?

Failure analysis in construction is a methodical process that investigates the causes of structural or material failures in construction projects. It entails examining components, materials, and systems to pinpoint the factors behind the failure and to extract lessons for future prevention. Utilizing engineering principles, forensic techniques, and advanced testing methods, this approach assesses structural integrity, material properties, and environmental conditions. The objective of consulting engineering services is to improve the quality and safety of projects by informing design enhancements, best practices, and maintenance procedures.

Our Expertise

Structural Failure Analysis

Our team of experienced consultants specialize in analyzing structural failures to determine the root cause. Our experts employ advanced techniques to assess the integrity of materials, construction methods, and design elements on bridges, buildings, or any other structure.

Material Deficiency Assessment

We investigate material deficiencies that may contribute to failures. Through in-depth analysis, we identify weaknesses in materials and provide recommendations for suitable replacements or reinforcements.

Construction Process Evaluation

Understanding that construction processes play a pivotal role in project success, our experts thoroughly evaluate methodologies, including scrutinizing construction practices, adherence to industry standards, and the impact of external factors on the construction process.

Forensic Engineering

In cases of unexpected failures, our consultants conduct detailed investigations to collect and analyze data to determine the cause of failures and whether they originate from structural design flaws, construction errors, or external influences.

Benefits of Failure Analysis

Risk Mitigation

Our consulting engineering services identify and address potential failures early, reducing the risk of accidents, injuries, and financial losses. At Rimkus, we implement preventive measures for immediate safety and long-term project resilience.

Optimized Performance

Dedicated to the longevity and optimal functionality of construction projects, our consulting engineering services involve in-depth analysis of structural elements, materials, and construction processes. We provide tailored recommendations for design improvements, material enhancements, and efficiency measures, contributing to issue resolution and project optimisation.

Regulatory Compliance

At Rimkus, we conduct failure analysis with a commitment to regulatory compliance. We ensure our services align with and often exceed industry standards, offering clients confidence in project safety and quality benchmarks. Our meticulous analysis and documentation serve as evidence of legal compliance, providing insights into potential failures while minimizing legal risks.

Expert Recommendations

We provide expert, tailored solutions for construction projects. Beyond issue identification, our consultants craft solutions that rectify current challenges and include preventive strategies. By addressing root causes, we create plans which minimize the likelihood of future issues.

Monitoring and Progress Review Services

Rimkus’ highly skilled teams assess the progress of clients’ projects to ensure all involved parties understand its status and can correlate project status to milestones relevant to Construction All Risks (CAR) and Erection All Risks (EAR) policies. Our Delay in Start-Up (DSU) project monitoring is performed remotely by reviewing progress reports and schedules to identify performance trends. Risk engineer interfaces and on-site visits can also be undertaken to provide greater insight and context to the reliability of reported progress.

We accurately and cost-effectively monitor and benchmark progress on fast-moving projects, track this progress against Scheduled Commercial Operation Dates (SCOD) and report project gains or slippages and key performance indicators in relation to DSU and the period of insurance.

Robust and detailed monthly progress reports are provided on pre-loss DSU construction projects or portfolios and on damages and repairs. These are easy to implement, requiring existing project records, and can be combined with the monitoring requirements of lenders and funders.

Quantitative Risk Analysis

As a supplemental service to our DSU project monitoring, we are able to provide bespoke Quantitative Risk Analysis (QRA). We generate project performance models based on the latest available project data, with the model continually updating as the performance of the project varies over its lifecycle.

This performance model describes the changing dynamics experienced in the situations present throughout construction project monitoring. These models are then used to create a probabilistic outcome of expected activity/project completion, via a Monte Carlo analysis method. This process generates a continuous distribution of outcomes, each with a specified probability of occurrence, giving a statistical indicator of project performance, such as target completion date.

Benefits of Project Monitoring

Independent Reporting and Repository

Clear and concise independent reports that provide an overview of project performance, in direct relation to Scheduled Commercial Operation Dates (SCOD), are prepared monthly. These reports enable trend identification and an up-to-date view of the project’s status before any incidents occur. Our repository allows secure and prompt access to project records in the event of a claim.

Risk Management

Implementing proper project monitoring protocols is a crucial element of effective risk management. These protocols help evaluate if a project is progressing according to the plan, if it is likely to meet the policy end date, or if an extension is necessary. By carefully assessing and addressing potential risks early on, clients can navigate uncertainties and mitigate disruptions, cost overruns, and other obstacles that could compromise the project’s successful completion.

Efficient Claims Resolution

One of the main objectives of the project monitoring service is to avoid time-consuming and costly retrospective progress analysis following an insured incident. This measure helps prevent prolonged disputes and promotes efficient claims resolution, leading to accurate and timely settlements and increased client satisfaction.

Quality Assurance

Thorough evaluations of the construction schedule’s quality, integrity, and suitability for monitoring are conducted to ensure that deliverables adhere to or surpass industry standards. These evaluations also include identifying critical phases of the delivery schedule (key performance indicators) that require concentrated attention for ongoing progress monitoring purposes.

Why Choose Rimkus?

Our teams’ scheduling expertise and unrivaled global experience of DSU claims, combined with the experience gained from acting on a wide array of complex projects, allows us to provide a service where claims can be settled promptly, efficiently, and cost-effectively. Utilizing advanced project monitoring tools, we provide real-time information for informed decision-making. Our approach is customized to meet each client’s unique requirements, ensuring we deliver tailored services that exceed expectations.