Aon Global Risk Consulting, the risk management consulting arm of Aon, which has locations throughout North and South America, in collaboration with research agency TNO, has launched a new modelling tool for the oil and gas sectors. The Aon Loss Estimating Risk Tool (ALERT) for oil, gas and petrochemical clients is designed to model the potential financial impact of a wide range of fire and explosion scenarios in the hydrocarbon processing industry.
ALERT aims to become a key tool for all of Aon’s energy risk engineering professionals. Developed in conjunction with several leading insurers, ALERT is calibrated to model a full range of known historical losses from across the industry and includes discharge and dispersion models, which are used to evaluate cloud dimensions for vapour cloud explosion events.