BakerRisk’s expertise in explosion and fire modeling, equipment vulnerability, frequency calculations, and risk calculations allows us to provide unique insight into your Business Interruption (BI) risk drivers. BI risk examines the financial risks associated with downtime, product loss, lost revenue, and other operational inter-dependencies. Our BI methodology supports a tiered approach from high-level screening of site-wide risk drivers to progressively finer levels of detail, which can be explored from a site or company level perspective.
BI studies often arise from questions regarding potential business losses. However, previous assessments such as facility siting studies (FSSs) or quantitative risk assessments (QRAs) can be leveraged to expedite the analysis. Our state-of-the-art software programs allow us to efficiently analyze a wide range of accident scenarios and business interruption targets. These tools, as well as the vulnerability data for key pieces of equipment and buildings, are supported by BakerRisk’s extensive testing programs and experience in incident investigations.
Deliverables are tailored to your specific needs to support your decision making framework. Risk results are provided in the form of frequency-dollar (F$) curves and tables that identify high risk scenarios or equipment/buildings that incur high risk. If intolerable levels of BI risk are identified, BakerRisk will work with you to reduce BI risks by brainstorming creative ways to minimize losses and reduce recovery time estimates.
Reduce Recovery Time
In April 2020, BakerRisk reached an agreement with the Farrar family to acquire the Nelson-Farrar Cost Index (NFCI). BakerRisk’s NFCI provides industry estimators, project planners, and insurance interests with a reliable method to estimate construction and/or operating costs for major Oil and Gas facilities. Click here to subscribe.Read More