Quantitative Determination of Safety Integrity Level on Offshore Metering and Custody Transfer Facility

2003 ◽  
Author(s):  
Alejandro Di´az-Herna´ndez ◽  
Mari´a Eloisa Pe´rez Medina ◽  
Rafael Melo Gonza´lez
Keyword(s):  
Petroleum Industry ◽  
Fault Tree Analysis ◽  
Insurance Companies ◽  
Minimal Cut Sets ◽  
Reliability Parameters ◽  
Safety Integrity Level ◽  
Primary Element ◽  
Oil Tanker ◽  
Innovative Concept

A quantitative way for determining the Safety Integrity Level of Safety Instrumented System (SIS) on Offshore Metering and Custody Transfer Facility in Campeche Bay Mexico is presented in this work. The methodology that was employed in order to assess and determine the Reliability parameters of SIS; which was carried out in three steps: 1. Identify undesirable events that can damage to personnel using the API-14C and to, the facility and the environment (by oil spill in hoses when the oil tanker is filled), 2. Estimate the severity and consequences of risk, using safety layer matrix of ISA S84.01 and, 3. Quantify the severity of each risk identified with the fault tree analysis. This last step uses the minimal cut sets, an innovative concept in petroleum industry, this provides valuable information about possible combinations of fault events, that can result in a critical failure of the system. The period of maintenance of the main SIS components (sensors, logic solver and final element), was reduced applying redundancy in the primary element. Furthermore, the results obtained of this analysis can be used by insurance companies or institutions that certify under standards of process quality and safety.

scholarly journals HAZOP Study and Determination of Safety Integrity Level Using Fault Tree Analysis on Fuel Gas Superheat Burner of Ammonia Unit in Petrochemical Plant, East Java

2017 ◽  
Vol 5 (2) ◽  
Author(s):  
Ronny D. Noriyati ◽  
Amarendra B. Prakoso ◽  
Ali Musyafa ◽  
Adi Soeprijanto
Keyword(s):  
Fault Tree Analysis ◽  
Petrochemical Plant ◽  
Malicious Nodes ◽  
Safety Level ◽  
Fuel Gas ◽  
Safety Integrity Level ◽  
On Line ◽  
Research Analysis ◽  
Pressure Switch

Safety is an essential requirement in the course of production in the industry. Security in the factory needs to be considered, especially against malicious nodes such as burner. In this research analysis to determine opportunities hazard that could happen to superheat burner. The magnitude of the risk of harm must be balanced with the security system (SIS). So the system superheat burner analyzed by the method HAZOP and SIL safety level calculated through the method of FTA. Based on research conducted in this thesis, superheat burner has a high danger risk (high risk) component TT-1005 and PT-1018. The level of security superheat burner classified SIL 1 with PFD 4.38x10-2, so do redesign the SIS to achieve SIL 2. PFD system of 0.0099 is achieved by adding 2 ESDV on line check fuel gas and purges gas and increase the pressure switch on each function pressure switch. (PSHH, PSL, PSLL). 

scholarly journals On the Determination of the Rates of Premium for Assuring against Issue

1859 ◽  
Vol 8 (3) ◽  
pp. 127-138
Author(s):  
Archibald Day
Keyword(s):  
Individual Case ◽  
Insurance Companies ◽  
The Subject

Among the numerous classes of risks now undertaken by Insurance Companies, those against the contingency of leaving issue are beginning, from their increasing numbers, to assume a position of greater importance than heretofore. Nothing has hitherto, to my knowledge, been written upon the subject, and the premiums for insurances of this nature have been left to the judgment of the actuary as each individual case has come before him, there being no recognized and accurate formula for the calculation of the risk. Under these circumstances, and as a considerable amount of material exists from which approximate results may be deduced, I venture to submit to the Institute a few considerations upon the subject, but confined principally to the probabilities of marriage so far as they affect the calculation of such premiums.

scholarly journals The Competitiveness Assessment of the Life Insurance Companies in Ukraine

2020 ◽  
pp. 47-53
Author(s):  
N. Prykaziuk ◽  
A. Tkachenkо
Keyword(s):  
Development Strategy ◽  
Life Insurance ◽  
Customer Orientation ◽  
Insurance Companies ◽  
Relevant Market ◽  
Methodical Approach ◽  
Leading Position ◽  
Regulation Model ◽  
Further Development

The paper suggests a methodical approach to assessing the life insurance companies’ competitiveness, which is based on a combination of ranking and radar methods. The algorithm for such an assessment is developed, which covers seven progressive stages. The respective calculations revealed the most competitive life insurance companies currently existing in Ukraine. The performed analysis proved the existence of system-forming life insurance companies in Ukraine, as well as groups of institutions that, under certain conditions, can compete significantly or even take a leading position in the market. It is proved that the establishment of competitive positions of such institutions in the relevant market is not only economic but also social in nature, because it allows potential policyholders quickly determining the integrated state of development of a particular insurer. It is substantiated that such calculations are necessary for insurers, as well as for the relevant state authorities, concerning the determination of further development prospects for the cash-value life insurance. Such an analysis is also justified under the changing regulation model of the life insurance companies, as one of the key tasks of the NBU is to strengthen the requirements for their activities, as a result, only the most developed institutions will remain on the market. It is proved that maintaining its place in the market by existing insurers-leaders and, at the same time, gaining new additional prospects for strengthening their market positions by other life insurance companies, requires using a flexible development strategy, which will be based on customer orientation. The ways for improvement of traditional development strategies of life insurance companies are outlined, which allows strengthening their competitive positions in the market under the emerging crisis phenomena in the economic and financial fields.

OSIGURANjE ŽIVOTA U KORIST TREĆIH LICA

2021 ◽  
pp. 535-551
Author(s):  
Zoran Miladinović ◽  
Keyword(s):  
Life Insurance ◽  
Legal Status ◽  
Insurance Contract ◽  
Third Party ◽  
Insurance Companies ◽  
Insurance Law ◽  
Legal Provisions ◽  
Insured Person ◽  
Insured Event

Insurance of life in favor of third parties is more important than the insurance of life in case of death. Moreover, in some rights this type of insurance can be contracted only in the event of the death of the insured person. There are no such restrictions in our insurance law, which means that the same can be agreed in case the isured person reaches a certain age. With this type of insurance, the insured event can be realized on the person of the insurance policyholders or on some other person. The insured person can therefore be the insurance contractor himself and it can also be another person. Considering that in this type of insurance, upon the occurrence of the insured event, the payment of the insured amount is always made to a certain third party beneficiary and that the insurance contract mentions several persons with different legal status, the insurance contract must clearly define the issues such as clear determination of the beneficiary insurance, what happens if the insurance beneficiary dies before the insured person, or the contractor assures, whether it is necessary for the insurance beneficiary to give his consent to be paid compensation, whether and until when the insurance policyholder can revoke the benefit he has contracted for a third party-beneficiary of the insured, etc. All these issues are mainly regulated by legal provisions, but of particular importance are General Conditions of life insurance of life insurance companies, as the above issues are clearly defined on the basis of experiences that have proven to be open in practice.

FTAe – Fault Tree Analysis in Microsoft Excel

2014 ◽  
Vol 889-890 ◽  
pp. 591-594
Author(s):  
Richard Kuracina ◽  
Denis Šandor ◽  
Karol Balog
Keyword(s):  
Fault Tree ◽  
Fault Tree Analysis ◽  
Software Tool ◽  
Short Description ◽  
Microsoft Excel ◽  
Tree Analysis ◽  
Minimal Cut Sets ◽  
Minimal Cut ◽  
Cut Set

FTAe is software tool for Fault Tree Analysis in Microsoft Excel. This paper is focused on short description of created FTAe. A brief description of Fault Tree Analysis is in the first part of paper. The Structure, Logic and Minimal Cut Sets in Fault Tree analysis is described too. Next part of this paper is focused on the choice of algorithm for cut set calculation and brief description of structure of FTAe. Finally, advantages of FTAe software in Microsoft Excel are described in conclusions.

scholarly journals An Application of Credibility Theory to Solvency Margins: Some Comments on a Paper by G. W. De Wit and W. M. Kastelijn

1982 ◽  
Vol 13 (1) ◽  
pp. 37-46 ◽  
Author(s):  
Henrik Ramlau-Hansen
Keyword(s):  
Life Insurance ◽  
Alternative Methods ◽  
Credibility Theory ◽  
Insurance Companies ◽  
Numerical Example

AbstractSome comments are given on a recent paper by de Wit and Kastelijn (1980) and alternative methods for analysing loss ratios are proposed in connection with the determination of the necessary solvency margins of non-life insurance companies. The methods are illustrated by a numerical example.

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