PML Studies

¿Qué es un estudio PML?

This is a study in which the Probable Maximum Loss (PML) is estimated, which estimates those values that may be lost in the event of some risk, with the aim of obtaining insurance. It must be carried out taking into account the most serious incident that may occur for a company and that is covered by an insurance policy. These effects are taken into account from the damage that may be accidentally caused to the environment and animals, secondly, to the people and property that may be affected.

How is a PML study carried out?

In order to arrive at an estimate of damages in the event of a catastrophic event, the characteristics of the project being carried out, the equipment and current state that is used, and the protection and prevention measures must be taken into account.

Who requires a PML study?

The Security, Energy and Environment Agency (ASEA) requires those companies that carry out activities that have to do with the exploration, transportation, storage, distribution, compression, decompression, liquefaction, regasification, sale to the public or extraction of hydrocarbons or petroleum products.

About ASEA Insurance policies

The minimum validity required is one year. The company that is insured is the one who assumes responsibility in the event of damage not only to the environment, but also to suppliers, contractors, service providers or subcontractors and must comply with specific requirements before damage to the environment:

The attention number in case of any accident or emergency.
Containment of contaminants.
Ways to mitigate the impact and resulting environmental damage.
They must restore or compensate the environment.

For cases of damages to third parties: The coverage must be basic or general that meets the responsibility towards third parties. The incidents that companies that transport, store, distribute or work with hydrocarbons and petroleum products may face are:

Fires or explosions
Leaks
Spills
Accident due to improper handling of dangerous material.
Consequences of natural events.

At ADMIRA Consultores, we know that prevention and adequate protection are necessary elements for managing the Hydrocarbons sector, which is why we offer a PML study committed to Industrial Safety, Operational Safety and Environmental Protection of the Hydrocarbons Sector.

ADMIRA Consultores - Environmental Risk Management is one of the third parties authorized by ASEA. We have a specialized team to carry out a Maximum Probable Loss Study.