Archive for the ‘Insurance’ Category
Tuesday, September 21st, 2010
For the month of September, I thought it would be appropriate to write a post on Terrorism Risks.
Since 2001, there have been an average of 5 attempted terror attacks annually in the U.S. that have resulted in arrests, trial, or raising of the DHS threat level. Now you know what ...
Posted in Business Risks, Insurance, Security, Terrorism Risks | No Comments »
Thursday, July 1st, 2010
Generally speaking, 5-6 things have to go wrong for an incident to occur. Furthermore, these events or failures have to occur in a certain sequence.
The characteristics of mega disasters is that 5-6 events with fairly low probabilities of occurrence line up.
Such rare incidents are referred to by many names within the risk management community - ...
Posted in Incident Investigation, Insurance, Process Safety, Risk Analysis | 5 Comments »
Wednesday, October 28th, 2009
The U.S. Government has extended the Terrorism Risk Insurance Act (TRIA) to 2014. TRIA is intended to support insurance companies in case the claims from a terror incident go above a certain threshold.
What is interesting are the exclusions used by the government for this reinsurance.
Domestic vs. International Terrorism
Insured losses are ...
Posted in Insurance, Security | No Comments »
Friday, September 11th, 2009
Eight years after 9/11 threat of terrorism continues to persist.Organizations buying insurance to provide protection from terror attacks is on the rise.
Terrorism Insurance
Prior to 9/11, there was terrorism insurance was not a major concern. However, after 9/11 insurance and reinsurance companies found themselves with significant amount of exposure. Immediately following ...
Posted in Insurance, Security | No Comments »
Wednesday, August 12th, 2009
Hurricanes pose serious risks to physical assets in chemical plants and refineries. During hurricanes, plant equipment can be damaged by high winds and/or flood waters. I’m hoping your refinery has adequate protection against flooding...so let us see what risks are posed by high winds.
High winds acting on plant equipment exert ...
Posted in Hurricanes, Insurance, Natural Disasters | 2 Comments »
