Insurance Risk Engineering: Evaluating Estimated Maximum Loss (EML) Scenarios

Working from home won’t slow down Senior Process Safety Engineer, Dan Bushey while he  is evaluating EML’s.
Working from home won’t slow down Senior Process Safety Engineer, Dan Bushey while he is evaluating EML’s.

Despite current work from home guidance, BakerRisk continues to offer support to our Insurance Risk Engineering (IRE) clients through the Covid-19 crisis.

Some clients are reducing their output in response to the current economic challenges, while others are ramping up production to respond to the needs of various industries (health care, chemicals, manufacturing/food production, etc.).   Insurance coverage must be maintained even for facilities that have temporarily halted operations.  The need to conduct risk analysis surveys of facilities to evaluate operational and physical risks continues.

In some cases when it is not possible to wait, our Insurance Risk Engineers are conducting “virtual” risk analysis surveys of our clients’ sites through interviews with site personnel and documentation review to answer key questions about their risk profile.  Using today’s teleconferencing technology, we can tailor these virtual surveys to meet the needs of the client and their insurance partners.

While working from home, BakerRisk continues to perform the following services within the insurance risk service areas:

  • Loss estimate studies (EML, PML, etc.)
  • Business interruption and interdependency studies
  • Contingent business interruption exposure studies
  • Natural peril / catastrophe (nat/cat) risk evaluations
  • Mechanical breakdown evaluations

We look forward to partnering with you to address your Insurance Risk needs.


Share this:

Next Step

Changes in Facility Siting Standards: API 752, 753, & 756

In industries where the daily risks of potentially catastrophic events, such as vapor cloud explosions, are a constant concern, there’s no room for compromise – inherently safer design principles, effective hazard identifications and analyses, and adherence to up-to-date industry standards aren’t just important, they’re essential. Since its establishment in 1919, the American Petroleum Institute (API)…