Charles Taylor Technical Services (CTTS) has launched a service offering insurers, brokers, and oil & gas companies a pollution loss database of insurance losses related to oil field incidents in Western Canada over a 10 year period.
The database aggregates data from 220 sudden and accidental oil field pollution-related insurance losses, which are managed by Charles Taylor Adjusting in four provinces in Western Canada.
The database compiles information impacting land and waterways for the Canadian provinces of Manitoba, Saskatchewan, British Columbia, and Alberta, where much of the Canadian O&G industry is centralised, with the largest concentration of pollution losses.
“Charles Taylor has been adjusting oil field related pollution losses in the region for more than 20 years, which gives us in-depth insight into environmental risk analysis and insurance loss trends, said Robert Paxton, vice president, strategy & performance.
“We believe our new Pollution Loss Database is the most comprehensive collection of data of its kind for the region, representing information on the vast majority of insurance losses triggered by accidental incidents reported during the prior 10 year period.”
The database is being offered on a subscription basis and will be updated with new loss details bi-monthly to ensure the accuracy and timeliness of insurance loss data for the region
The application is provided through CTTS’ dashboards offering interactive data visualisation tools to provide at-a-glance summaries of key facts, along with in-depth analysis across myriad search criteria. Access to the database is via a secure portal protected by username and password.
“We are very excited to launch our new offering, as Charles Taylor has undertaken extensive research making use of historical data and can offer that research to clients in a value-adding format to identify and analyze loss patterns and risk trends,” Paxton added.
