Risk Management: Marsh
Search
About Us Issues Solutions Insights Results
Insights
Printer Friendly Version Email to a friend
> Overview
> At Risk
> Press Clippings
> Thought Leadership
Claims, Liabilities, and Disputes
Human Capital
Operational Risk
Risk Technology



  Operational Risk
The 100 Largest Losses 1972-2001
Large Property Damage Losses in the Hydrocarbon-Chemical Industries, 20th Edition: February 2003


The 20th Edition reviews the 100 largest property damage losses that have occurred in the hydrocarbon-chemical industries over the last 30 years. The analysis covers losses of $10 million or greater since many hydrocarbon processing companies have a property damage insurance deductible in that range. There is also a separate listing of all losses that exceeded $150 million in property damage. The reported losses are mainly due to fires or explosions. Some are a result of floods, windstorms and pressure vessel rupture events. Marine transportation losses are excluded, except for those involving marine vessels moored at plant docks. The large property losses are grouped by type of facility as follows: Refineries, Petrochemical Plants, Gas Processing Plants, Terminals/Distribution and Offshore. The number of losses over five-year intervals from 1987, regardless of dollar amount, has continued rise. Aging facilities, procedure failure, personnel cutbacks, budget restraints and changing regulatory requirements were all contributing factors.

 
Read this article in its entirety.

Contact
Learn more about how Marsh's Risk Consulting Practice can help you. Contact Us
 

  Copyright © 2004 Marsh Inc.           |           Terms and Conditions           |           Site Map           |           Privacy Policy           |           Contact Us
Marsh MMC : Marsh and McClennan Companies
Home