Onshore Energy Conference — Dubai Onshore Energy Conference — Dubai 02 | Page 25

TECHNOLOGICAL ADVANCEMENT
• F
 laring of hydrocarbons in the
aftermath of an incident at a
petrochemical complex
• C
 hange in product mix
following a partial loss
• C
 orrelation of availability and output to
ambient temperature during an outage
Increasingly complex models can be
constructed reflecting interdependencies of
operational units allowing improved analysis of
issues, and more accurate loss measurements.
The downside?
As IoT connectivity and data volumes
increase, so does the potential for
something to go wrong. Companies are
under threat from cyber-attack, be it
disruptive (e.g. data breach) to causing
catastrophic damage (and resultant BI).
Conclusion
The need to extract, handle and analyse
large volumes of data, means it is important
for underwriters and claims handlers to
work with forensic accountants who know
the data to request, how to analyse this
data, and distil the data into a user-friendly
assessment, which stands up to scrutiny. ■
ABOUT THE AUTHOR
Daniel is a Partner at MDD Forensic
Accountants based in Dubai. He regularly
advises Loss Adjusters, Insurers and
Reinsurers on the quantification of
Business Interruption, Contingent Business
Interruption and Delay in Start-Up (DSU/
ALOP) claims throughout the Middle East,
Africa and Central Asia across a number
Daniel Thorpe –
of industries including: power generation
Partner
(including desalination), refining,
petrochemicals and manufacturing.
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