Aon Global Risk Consulting, in collaboration with TNO, a research agency, has launched the Aon Loss Estimating Risk Tool (ALERT), a new modelling tool for oil, gas and petrochemical clients.
The new tool is able to model the potential financial impact from a wide range of fire and explosion scenarios in the hydrocarbon processing industry.
Developed in conjunction with several leading insurers, ALERT is calibrated to model a full range of known historical losses from across the industry and includes discharge and dispersion models, which are used to evaluate cloud dimensions for vapour cloud explosion events.
Robert Robinson, managing director, Energy Risk Engineering said ALERT will support clients and insurers in calculating estimated maximum losses from property damage and in assessing third party liability exposures.
Aon’s Energy Risk Engineering professionals serve clients across the globe. ALERT will be available to all all of Aon’s Energy Risk Engineering professionals and will be managed globally from London with support from Aon centers of excellence in Houston, Calgary, Dubai and Singapore.
TNO is a Dutch research agency founded in 1932.
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