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Document ID (ISN)57592
CIS number 92-605
ISSN - Serial title 0260-9576 - Loss Prevention Bulletin
Year 1991
Convention or series no.
Author(s) Redmond T.C.
Title Piper Alpha - Cost of the lessons
Bibliographic information Dec. 1991, No.102, p.1-5. Illus.
Abstract The way insurance programmes for high-value oil/petro-chemical risks are organised is described and the insurance placement and costs resulting from the accident to the Piper Alpha oil production platform are discussed. Insurance of such risks may cover damage to the facility, business interruption, third party liability, pollution and clean up and debris removal. The actual size of the loss to the insurance industry following the Piper Alpha accident is still not known, although an approximate figure is given as USD 1.5 billion.
Descriptors (primary) United Kingdom; major hazards; cost of accidents; offshore oil extraction; petroleum and natural gas industry
Descriptors (secondary) role of insurance institutions; economic aspects
Document type D - Periodical articles
Country / State or ProvinceUnited Kingdom
Subject(s) Chemicals, plastics and rubber
Broad subject area(s) Fires, explosions and major hazards
Browse category(ies) Economic aspects
Petroleum and natural gas industry
Major hazards