captive insurance Archives

Open pit walls catastrophic failure probabilities for a captive insurance

Four or five years ago an insurance company asked us to estimate open pit walls catastrophic failure probabilities for a captive insurance. A that time of our study recent publications of pit wall failures databases we not yet available. Like we did for tailings dams failures in 2013 we used approximate data we found, i.e. a sample portfolio of forty open pits records and a table from a 1996 Swedish with 24 open pit failures research. Open pit walls catastrophic…

Less is more in risk management too

Complexity, interdependencies, black swans are all widely used terms among risk managers . Unfortunately some risk manager still use them to hide behind, while working ultimately with their gut feelings. However, all this can be solved with a properly defined glossary and a proper methodology should bring clarity and focus, as indeed, less is more in risk management too. FMEA or any another tool you use should simplify your task, ERM development, and not overwhelm you with pages and pages…