Updating the economic cost of large-scale industrial accidents: Application to the historical analysis of accidents |
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| Institution: | 1. PREPERSA, Psg. de Gracia 2, 08007 Barcelona, Spain;2. Centre d''Estudis de Risc Tecnològic (CERTEC), Universitat Politècnica de Catalunya–Institut d''Estudis Catalans (ETSEIB), Diagonal 647, 08028 Barcelona, Spain;1. Civil and Environmental Engineering, University of Western Ontario, London, ON N6A 5B9, Canada;2. Chemical and Biochemical Engineering, University of Western Ontario, London, ON N6A 5B9, Canada;1. National Institute of Laser Enhanced Sciences (NILES), Cairo University, 12613 Giza, Egypt;2. Department of Agricultural Engineering, Faculty of Agriculture, Cairo University, 12613 Giza, Egypt;3. Department of Agricultural Engineering, Faculty of Agriculture, Suez-Canal University, 41522 Ismailia, Egypt;1. Federal University of Itajubá (Engenharia da Energia da Universidade Federal de Itajubá), Av. BPS, 1303 Itajubá, MG CEP: 37500-903, Brazil;2. Natural Resources Institute, Federal University of Itajubá, National Reference Center in Small Hydropower (Instituto de Recursos Naturais da Universidade Federal de Itajubá, Centro Nacional de Referência em Pequenas Centrais Hidrelétricas), Av. BPS, 1303 Itajubá, MG CEP: 37500-903, Brazil;3. Natural Resources Institute, Federal University of Itajubá (Instituto de Recursos Naturais da Universidade Federal de Itajubá), Av. BPS, 1303 Itajubá, MG CEP: 37500-903, Brazil;1. Research Center for Environmental Determinants of Health, Department of Environmental Health Engineering, School of Public Health, Kermanshah University of Medical Science, Kermanshah, Iran;2. Research Center for Environmental Determinants of Health, Department of Occupational Health Engineering, School of Public Health, Kermanshah University of Medical Science, Kermanshah, Iran;3. Institute of Biological Sciences, Faculty of Science, University of Malaya, 50603, Kuala Lumpur, Malaysia |
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| Abstract: | This paper analyses the feasibility of applying different update rates of industrial prices to the economic assessments of accidents with special emphasis on those related to the chemical process industry. The advantages and disadvantages of applying this technique to the historical analysis of accidents are analysed and compared with the results obtained with the five most widely used indexes. The results of a general analysis of the historical evolution of the cost of accidents recorded in two prestigious databases are also presented. Valid data are obtained for decision-making with regard to insurance premiums, revaluation of assets and risk management (administration, safety management of large chemical complexes). |
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