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The impact of standard of care on dams survivability

Using ORE2_Tailings we can quantify the impact of standard of care on dams survivability. In this blogpost we take three dams, namely Dam x, Dam y and Dam z. Their design was identical with initial factor of safety of 1.3. In addition, they had similar QA/QC, construction method, same systemic approach, efforts and uncertainties consideration. Various small mishaps hit the dams along their history. Some repairs occurred, under different contracts, different quality control and finally, at different times. It turns…

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Tactical and strategic planning to mitigate divergent events

Tactical and strategic planning to mitigate divergent events is one of the themes of our next book. The term divergent does not yet appear in our glossary, as we are preparing its fourth edition. Stay tuned for the announcement of its publication. In short, hazards or exposures become divergent when they part from long term averages and “usual extremes”, both in terms of frequencies and/or magnitude. For example, a hundred-year rain event that occurs three times in a short interval…

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Comments on KPMG survey about third party risk management

We just read KPMG’s Third Party Risk Management outlook 2020 and today we will pitch in comments on KPMG survey on third party risk management . Risk integration We discuss what its conclusions mean in terms of practical risk assessment and Enterprise Risk Management (ERM). At Riskope we started integrating third parties risks in ERMs and risk assessments twenty years ago. We note that in the grand scheme of things third party may also mean neighbors. Of course, defining the limits…

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Tailings dams failures insurance perspective

It is interesting to read about Tailings dams failures insurance perspective. Riskope helped solving miners’ insurance denial issues for the last 15 years. Riskope also recognizes the issue is becoming much wider than mining due, for example to climate change impacting residential and private parties. Tailings dams Recent papers from Willis Towers Watson  quote tailings dams failures frequency at two failure per year. In a 2013 paper (Oboni, C., Oboni F., Factual and Foreseeable Reliability of Tailings Dams and Nuclear Reactors -a…

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