Establishment of insurance fee calculations, cost-benefit, cost-risk analysis.

Probability risk assessment for the operation of the given technology provide a good basis for the determination of insurance fees for site operators. Based on the analytical results of major accident hazards assessed by the DNV GL methodology, insurance fees can be estimated and financial risk indicators can be determined in a way, as insurance companies and brokers generate insurance premiums.

The two indicators underlying insurance premiums are the Estimated Annual Average Loss (EAAL), which is the risk of an estimated financial average annual loss and the Estimated Maximum Loss (EML), which is the risk of the estimated maximum financial loss.

This kind of risk assessment has a great advantage for the site operators to understand and clearly identify the most contributing components of insurance premiums, since this is the key for negotiations with insurance companies, reaching the determination of optimized insurance fees.

Risk assessments on operating technologies provide a good basis for the management to produce cost-benefit analyzes regarding safety. Systematic risk assessment helps to identify and rank of the components that contribute to the highest risk. This way, the cost of the proposed measures to increase safety should be optimized.