Everyone has a different pain threshold and likewise, everyone has different risk tolerance thresholds. We use the plural because each one of us has various thresholds, for example, a perceived one and a financial one. Your risk and risk tolerance thresholds made simple Anyone of us, every-day decides to undertake some activities and consciously or unconsciously assumes risks we consider acceptable/tolerable or sometimes intolerable.Think about various activities: Hunting, fishing, driving a heavy vehicle, and finally cooking in one’s house. They…
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Geohazards probabilities frequencies and insurance denial In the anthropocene insurers are facing “new” challenges when insuring against Geohazards. That is true especially for those caused by Human activity. Indeed geohazards probabilities, frequencies and insurance denial constitute a bundle. Insurers have realized that, because of the dynamic evolution, the usual actuarial point of view faces significant challenges and can be misleading. The indiscriminate use of Force Majeure and Insurance denial to protect themselves is actually detrimental to their business and their…
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GeoMontreal 2013 is pleased to offer a choice of full-day short courses as part of the official conference program. Modern Implementations of Risk and Crisis Management in Geotechnical Engineering by Riskope at GeoMontreal 2013 is a short course to be held Sunday, September 29, 2013 at the Hilton Bonaventure. Modern Implementations of Risk and Crisis Management in Geotechnical Engineering: Riskope at GeoMontreal 2013 Riskope’s course will bring much needed methodological and practical answers to anyone involved in evaluating and prioritizing risks…
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We will discuss today why Force Majeure clauses in contracts should be optimized to reduce costs and litigation potential. Force Majeure clauses in contracts should be optimized to reduce costs and litigation potential. Indeed, any time spent in the aftermath of a mishap “discussing” if the event was Force Majeure, negligence or had other causes severely impacts operations. In addition it can significantly increase the costs of consequences. Thus the need to optimize the Force Majeure formulation. If it was…
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